3:22pm: The deal is official, the team announced via press release.
“We have great regard for Alec’s work ethic and dynamic athletic ability as well as his growth potential,” Jazz GM Dennis Lindsey said. “Alec is a young player with a unique skillset and true passion for basketball who consistently finds the gym and has displayed the characteristics and desire to continue to improve his game. He is a high-character individual who, throughout his time with the Jazz, has expressed his love for Salt Lake City and Jazz fans, so we are thrilled to know that he will be a core piece of our future as we continue to grow.”
12:42pm: There is no team or player option in the deal, according to Jody Genessy of the Deseret News (Twitter links). Genessy indicates the extension has been finalized, though the Jazz have yet to make any formal announcement.
10:50am: Alec Burks and the Jazz have agreed to a four-year, $42MM extension, reports Adrian Wojnarowski of Yahoo! Sports. The arrangement includes “reachable” incentives that could push the value to $45MM, Wojnarowski writes, but it’s unclear if those incentives will be deemed likely ones that will count in initial cap calculations. Enes Kanter‘s agent said earlier this week that he, his client and the Jazz had made a mutual decision to call off talks on an extension for the Swiss-born center, but Utah had continued talks with Burks and agent Andy Miller in advance of tonight’s 11:00pm Central deadline. The deal for Burks must become official before that time.
GM Dennis Lindsey indicated a desire about a month ago to keep both Burks and Kanter long-term, whether via extension or in restricted free agency next summer. Today’s deal assures the team of keeping at least one of its 2011 lottery picks. Burks, the 12th overall selection that year, becomes the team’s second swingman on a lucrative long-term deal, joining Gordon Hayward, who signed a four-year max offer sheet with the Hornets this past summer that the Jazz matched.
Burks saw an increased role for the Jazz last year, averaging 28.1 minutes per game, but he still made only 12 starts. He was nonetheless more efficient in his playing time than he had been in the past and continued playing effective defense, as I outlined when I examined the 23-year-old’s extension candidacy. Still, I figured the Jazz would only hand out an extension that wasn’t worth much more than the four-year, $14MM deal that the Grizzlies gave Quincy Pondexter last fall, given Utah’s depth at the wing and guard positions.
It’s unclear whether the salaries for Burks will be evenly distributed across the four years, but adding the deal’s average annual value of $10.5MM gives the team roughly $51MM in commitments for 2015/16, the first season the extension will take effect. That doesn’t account for any new deal with Kanter or most of Trevor Booker‘s $4.775MM salary, which is partially guaranteed for only $250K.
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