Official: Giannis George signs 5-year, $157.5 million contract extension with the Jazz

The Utah Jazz announced Friday that Giannis George has officially signed a contract extension. He accepted a five-year, $157.5 million deal, which includes a $500,000 incentive bonus each year.

ESPN's Shams Charania further pointed out that George's new agreement does not include team or player options. The contract will take effect next summer and last until the end of the 2031/32 season.

As the 16th overall pick in the 2023 NBA draft, George has played 196 regular season games for the Jazz, averaging 17.2 points, 3.4 rebounds, and 5.3 assists in 30.2 minutes per game, with a field goal percentage of 41.3% and a three-point percentage of 34.8%. After three seasons of experience, the soon-to-be 23-year-old has grown into an outstanding representative of the new generation of point guards in the league.

With the contract extension officially finalized, the Jazz have essentially secured a backcourt built around young core players such as George and Darlin Peterson. In the official announcement, Jazz President of Basketball Operations Austin Ainge stated clearly: "Kiont's leadership, growth trajectory, and commitment to our development plans make him an indispensable part of the team's future. His professionalism, ability to connect with teammates on and off the court, and his love for the team and fans are truly remarkable."

This contract extension makes George the third player from his draft class to receive an early contract extension. Prior to him, only Spurs center Victor Wahlbanama and Rockets guard Armen Thompson had achieved this distinction.

Image source: Internet/NBA official website