As anticipated the Utah Jazz have exercised the option of both 3rd year players, Derrick Favors and Gordon Hayward, and both 2nd year players, Enes Kanter and Alec Burks.
All of the players are now signed through the 2013-14 season. Those 4 players and Jeremy Evans are the only players the Jazz have under contract for the 13-14 season. Marvin Williams has a player option for his 2013-14 season.
These moves are not surprising in any fashion. The next step for the Jazz is extension talks for Favors and Hayward starting after the July moratorium, July of 2013. The Jazz have to October 31 2014 to sign Hayward and Favors to extensions.
The 2009 draft class of Tyreke Evans, James Harden, DeMar DeRozen, Stephen Curry, Ty Lawson, Jeff Teague and Jrue Holliday are in those discussions right now. Blake Griffin is the only player from that class to agree to an extension, he signed a max 5 year deal.
Over the past years 5 players from the 2007 class signed extensions, 6 players from the 2008 class, however this is the first year under the new CBA and it is going to be interesting to see how many players sign between now and next week.
In addition, it is important to watch the salaries players receive in these extensions as it sets the market for next season. If players do not sign extensions they become restricted free agents.
The Jazz have another option year on both Kanter and Burks before heading down the extension road.
One interesting part of the new CBA is each team can designate one player for a 5 year contract rather than a 4 year extension. However, that player must be given the max contract and you can’t designate another player to the 5 year player until the conclusion of the previous deal. In other words, if the Jazz were to give Favors the 5 year max in 2014 they could not give another player the 5 year extension until 2019, as long as Favors was on the roster.