Jordan Clarkson - Cleveland Cavaliers v Utah Jazz
SALT LAKE CITY, UTAH - Jordan Clarkson (#00) of the Utah Jazz controls the ball during the first half against the Cleveland Cavaliers at Vivint Arena on January 10, 2023 in Salt Lake City, Utah. Alex Goodlett/Getty Images

Jordan Clarkson and the Utah Jazz have agreed on a new three-year contract renegotiation and extension worth $55 million, which would see the 6-foot-5 play in Utah until the conclusion of the 2025-26 NBA season, as per Shams Charania of The Athletic and Stadium.

The deal restructured Clarkson's salary for the upcoming year. He was supposed to make $14.2 million in 2023-24, the final year of his previous contract.

On the other head, the Jazz will enter the upcoming season with a significant amount of cap space, and they decided to up Clarkson's pay for 2023-24 to $22 million to fill up the salary floor required by the league.

Eventually, Clarkson's salary will descend and return to his usual market value of $15.5 million in 2024-25 and $14.2 million in 2025-26 to give Utah more flexibility in its roster building.

Clarkson would also receive a nice payday from the Jazz in a rebuilding season.

Jordan Clarkson Has Been a Solid Option For The Jazz

Clarkson was named the NBA Sixth Man of the Year in 2021 during his first full season in Utah.

He averaged a career-high 20.6 points per game in 54.8% shooting in the 2022-23 season, alongside 3.2 rebounds and 1.9 assists.

The Filipino-American guard played in 61 games last season, starting in all of them. The Jazz notably had a hot start, sitting on top of the Western Conference with a 10-3 record after 13 games before the elite teams found their groove.