First, Jordan Clarkson opted in to the final season of his contract.
Now, it appears the high-scoring guard and fan favorite could be sticking around for years to come.
According to multiple reports Sunday, Clarkson and the Utah Jazz are closing in on a three-year, $55 million contract renegotiation and extension.
Given the dearth of contending teams with available cap space, Clarkson ultimately eschewed the free agent market this summer and opted in on June 29, and so was set to make $14.26 million for the 2023-24 season.
However, given that the Jazz entered Sunday with approximately $14.9 million of salary cap room, it appears the team will be able to give the guard the raise he was hoping for.
By going the renegotiate-and-extend route, Utah’s front office likely will be able to turn some of that cap space into a balloon payment to Clarkson for ’23-24, to be followed by descending salaries the next two seasons — similar to the deal the Indiana Pacers and Myles Turner struck in January.
Under such a structure, Clarkson’s salary could decrease by as much as 40% in ’24-25 from what he will now make this season. In effect, the Jazz will be able to utilize their remaining cap space this season to give him a significant raise, while then gaining more cap maneuverability in years 2 and 3 of the new deal.
He would be under contract through the 2025-26 season.
The Athletic was the first to report the news, which was subsequently confirmed by ESPN.
The 31-year-old Clarkson is coming off a career year in which he started all 61 games he played in, and averaged career highs in points (20.8) and assists (4.4) per game, while tying his career-high in rebounds (4.0).
In 250 career games with the Jazz, since being acquired in December 2019, Clarkson has started 65 of them, and averaged 17.8 points, 3.6 rebounds, and 2.8 assists per game, while shooting 43.4% from the field and 33.8% from 3-point range.
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