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Jazz offering Mike Conley $75 million over next three years

James Foglio profile picture
Updated 12 months ago on
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According to veteran NBA reporter Marc Stein, the Utah Jazz are preparing to offer point guard Mike Conley a three-year, $75 million contract to remain with the team. Of course, the exact amount is a ballpark figure. Stein stated, “Utah has made retaining Mike Conley its top priority, league sources say, and is preparing a three-year offer said to be in the $75 million range.” The 14-year NBA veteran is a significant piece to the Jazz’s championship window, playing alongside superstar teammates, such as center Rudy Gobert and guard Donovan Mitchell. He helped the Jazz finish their regular season with the league’s best record of 52-20 (.722).

Utah went on to defeat the Memphis Grizzlies in five games in the first round of the playoffs. Though, the team lost four games to two in the conference semifinals against the Los Angeles Clippers. In the 2020-21 NBA season, Conley averaged 16.2 points, 3.5 rebounds and six assists per game in 51 games started. Then, in the postseason, he averaged 15.3 points, 3.5 rebounds and 7.7 assists per game. The 33-year-old also shot 44.4 percent from the field in the regular season. Last season, the 2007 fourth overall pick earned his first NBA All-Star selection.

On July 6, 2019, the Grizzlies traded Conley to the Jazz for Grayson Allen, Darius Bazley, Jae Crowder, Kyle Korver and a 2020 first-round pick. Furthermore, the Jazz can still trade Bojan Bogdanovic and Joe Ingles this offseason, if they wanted to improve their current salary cap situation. Referencing Spotrac’s 2021-22 cap holds, Mike Conley’s cap figure is $39,344,900. Cap holds are for pending free agents. Conley earned $34,504,132 last season.

The team’s current luxury tax space is $11,173,027. In addition to the aforementioned cap figures, Mitchell and Gobert have a combined cap figure worth 51.34 percent of the team’s total salary cap. These two players’ contracts alone are consuming a huge chunk of the team’s cap. Plus, on November 23, 2020, Mitchell signed a contract extension with Utah. He is set to earn $28,103,550 next season. On December 20, 2020, Gobert signed a five-year, $205 million extension with the organization. He will earn $35,344,828 next season and $38,172,414 in the 2022-23 season.

However, if the team were to still trade Bogdanovic and possibly Ingles as well, this would clear up an additional 25.68 percent of the team’s salary cap. Bogdanovic’s future guaranteed cash amount total is $19,343,000. They are contributing role players who play together well with the team’s big three, but re-signing the most valuable players is the team’s main objective this offseason. Jazz general manager Justin Zanik might contemplate trading role players who are not worth their asking price. Competitive teams in both conferences have to trim the fat at some point.

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James is a Basketball Insiders contributor. He earned his bachelor's degree in English and Creative Writing at Southern New Hampshire University. James enjoys watching sports and helping gamblers win money.

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