The Utah Jazz signed All-Star forward Lauri Markkanen to a new five-year, $238 million agreement, his agent Michael Lelchitski of Sports International Group told ESPN on Wednesday. Lelchitski confirmed to ESPN that the renegotiated deal and extension includes $220 million in new money.

Markkanen, 27, had one year and $18 million left on his contract; the new deal used the Jazz’s salary cap space to raise his 2024-25 salary by $24 million and adds four seasons and $196 million. According to his agent, the extension also precludes Markkanen from being traded for six months. That stretches beyond the Feb. 6 trade deadline, meaning Utah could not move him until next offseason at the earliest.

In his two seasons with the Jazz, the 7-footer from Finland has averaged 24.5 points and 8.2 rebounds and shot 39.9 percent from 3-point range in 55 starts last season (after averaging 15.4 points in his first five seasons with the Cleveland Cavaliers and Chicago Bulls). He won the NBA’s Most Improved Player award in the 2022-23 season, and made his first All-Star team that season.

Markkanen told ESPN:  “It’s a weight off my shoulders and I can focus only one the main thing now: playing basketball at a high level. I don’t stress about it, but you can’t pretend you don’t hear that stuff. It’s a good feeling knowing that I’m going to be in Utah … Once I got traded to Utah, the organization and city immediately embraced me, and it’s been a family-oriented place — especially with me having my own little kids now. It’s been an easy transition to basketball and easy off the court. I’ve grown comfortable building all of these relationships, and it’s been a great place for me to grow as a person.”

According to ESPN Stats & Information Markkanen is one of three 7-footers to make 1,000 3-pointers in NBA history, including Dirk Nowitzki and Channing Frye; and he’s the only 7-footer to make 175 3-pointers in multiple seasons in league history, according to ESPN Stats & Information.

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