First reported by ESPN’s Adrian Wojnarowski, the Utah Jazz are trading power forward/center Derrick Favors and a first-round pick to the Oklahoma City Thunder for a future second-round pick. The goal here was to help reduce their tax bill. While the six-foot-eight Georgia native does not possess any notable NBA awards or honors on his basketball résumé, in the 2020-21 NBA season, Favors averaged 5.4 points, 5.5 rebounds and a field goal percentage of 63.8 percent. The 11-year NBA veteran also recorded a free throw shooting percentage of 73.8 percent last season.
The 2020-21 Thunder finished 27-50 (.306), ranking 14th overall in the Western Conference. They could use another first-round pick. Plus, per ESPN’s Bobby Marks, this trade will put Utah $13 million below the luxury tax. On November 24, 2020, Favors signed a three-year, $29.2 million contract with the Jazz. Favors is set to earn $9,720,900 next season. This is the second time in his career he has left the Jazz.
He played with them from the 2010-11 season to the 2018-19 season, before he was traded to the New Orleans Pelicans on July 7, 2019 for a 2021 second-round pick and a 2023 second-round pick. For the 2022-23 season, he has a player option of $10,183,800. The Jazz plan to also re-sign Mike Conley, so this was somewhat of a drastic move to help clear up cap space. On July 6, 2019, Conley was traded by the Memphis Grizzlies to the Jazz, in exchange for Grayson Allen, Darius Bazley, Kyle Korver and a 2020 first-round pick.
The trade puts Utah $13M below the luxury tax. Will likely still be a tax team if Mike Conley Jr. is brought back but at a lesser financial penalty. https://t.co/9dB6xPLUK8
— Bobby Marks (@BobbyMarks42) July 30, 2021
Moreover, scoring-wise, the 33-year-old point guard has not lived up to his performances from his last few seasons on the Grizzlies, but the Jazz need all the help they can get. Jazz general manager Justin Zanik will make it a top priority to re-sign Conley here soon. Conley earned $34,504,132 in the 2020-21 season.
According to Spotrac, Conley has a cap figure of $39,344,900. Center Rudy Gobert and shooting guard Donovan Mitchell have a combined percentage of 47.61 percent of Utah’s total salary cap. On December 20, 2020, Gobert signed a five-year, $205 million extension with the team. He will earn $35,344,828 next season.
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