The Los Angeles Lakers and forward Jarred Vanderbilt have agreed to a four-year, $48 million contract extension, Klutch Sports CEO Rich Paul and agent Erika Ruiz announced on Friday. His new deal is set to begin in the 2024-25 season. Vanderbilt, 24, is slated to earn $4.64 million in 2023-24.
For his upcoming contract, he’s projected to make $10.71 million in 2024-25, $11.57 million in 2025-26, and $12.42 million in 2026-27. The deal also includes a $13.28 million player option for 2027-28. As a matter of fact, he’s eligible to receive up to 140% of the average NBA salary.
According to a few NBA betting sites, the Los Angeles Lakers hold sixth-shortest odds to win next season’s 2024 championship. Sportsbooks are showing better odds for the Denver Nuggets and Phoenix Suns.
Los Angeles Lakers forward Jarred Vanderbilt has agreed on a four-year, $48 million contract extension with the franchise, Klutch Sports CEO Rich Paul and agent Erika Ruiz told @TheAthletic @Stadium. Deal is fully guaranteed with a player option in the fourth year. pic.twitter.com/4kuLlt8zeT
— Shams Charania (@ShamsCharania) September 15, 2023
Vanderbilt was selected 41st overall by the Orlando Magic in the 2018 NBA Draft out of the University of Kentucky. The 6-foot-8 wing was then immediately traded to the Denver Nuggets.
Moreover, in 17 games off the bench with Denver in the 2018-19 season, Vanderbilt averaged 1.4 points, 1.4 rebounds, and 4.1 minutes per game. Plus, he shot 47.4% from the floor and 60% at the foul line.
Los Angeles Lakers, Jarred Vanderbilt have agreed to a four-year, $48 million extension; new deal begins in 2024-25 and includes a $13.28 million player option for 2027-28
After nine appearances with the Nuggets in the 2019-20 season, the Western Conference contender traded Jarred Vanderbilt to the Minnesota Timberwolves in February 2020.
He made 67 starts in 74 games played with the Timberwolves in the 2021-22 season. Also, he averaged a then-career-high 6.9 points, a career-high 8.4 rebounds, 1.3 assists, and a career-best 1.3 steals per game.
In Minnesota’s 141-123 win over the Houston Rockets on Jan. 9, 2022, the forward recorded career highs of 21 points and 19 rebounds in 32 minutes as a starter. Along with logging four assists, two steals, and two blocks, Vanderbilt shot 10-of-14 (71.4%) from the field.
Strong deal for both sides.
Vanderbilt could have been an unrestricted free agent next offseason and was likely looking at offers in the $12M range.
Contract starts slightly below the projected $12.9M non-tax midlevel.
Because of the 6 month rule, the Lakers cannot trade… https://t.co/vPFss6FYg0
— Bobby Marks (@BobbyMarks42) September 15, 2023
In July 2022, the Timberwolves traded Vanderbilt, Malik Beasley, Patrick Beverley, Leandro Bolmaro, Walker Kessler, and five first-round draft picks (2023, 2025-27, 2029) to the Utah Jazz for center Rudy Gobert.
Last season, the wing appeared in 52 games with the Utah Jazz and 26 with the Lakers. The Texas native averaged a career-high 7.9 points, 7.5 boards, a career-best 2.4 assists, and 1.1 steals per contest.
Vanderbilt is the fifth member of last season’s Lakers team to receive a multi-year extension this offseason, joining Rui Hachimura, D’Angelo Russell, Austin Reaves, and Anthony Davis
As part of a three-team trade in February 2023, the Jazz traded Vanderbilt and Beasley to the Lakers; Los Angeles traded a 2024 second-round draft pick to Minnesota; and the Lakers traded Damian Jones, Juan Toscano-Anderson, Russell Westbrook, and a 2027 first-round draft pick to Utah.
Of course, Westbrook is now with the Los Angeles Clippers.
Additionally, the Timberwolves sent D’Angelo Russell to the Lakers, and the Jazz dealt Nickeil Alexander-Walker, Mike Conley, a 2025 second-round draft pick, and a 2026 second-round draft pick to Minnesota.
Vanderbilt started 24 regular-season games and was in the starting lineup for 13 of Los Angeles’ 15 playoff games. During the first round of the 2023 NBA Playoffs, he recorded a playoff career-high 15 points in Game 4 against the Memphis Grizzlies.
Besides Vanderbilt, the Lakers agreed to contract extensions with four other players this offseason — Anthony Davis (three years, $177.13 million), D’Angelo Russell (two years, $36 million), Austin Reaves (four years, $53.83 million), and Rui Hachimura (three years, $51 million).
Furthermore, Los Angeles added Jaxson Hayes (two years, $4.63 million), Taurean Prince (one year, $4.5 million), Gabe Vincent (three years, $33 million), Cam Reddish (two years, $4.63 million), and Christian Wood (two years, $5.75 million).