Utah Jazz guard Jordan Clarkson (00) Rob Gray-USA TODAY Sports

Jordan Clarkson is discussing a three-year extension with the Jazz, sources tell Marc Stein (Twitter link). The new deal could pay him close to $18M per year, according to Jake Fischer of Yahoo Sports.

On Thursday, Clarkson chose to bypass free agency by picking up his $14.26M player option for next season. That made him immediately eligible for an extension, which will be worth more once the new CBA takes effect on Saturday and allows veterans to receive 140% of their current salary in the first year of an extension rather than the current 120%.

Utah can also use some of its $25M in cap room to give Clarkson a higher base salary in the first year of the deal.

The 31-year-old guard set career highs in several categories this season, averaging 20.8 points, 4.4 assists and 4.0 rebounds in 61 games. He has been with the Jazz since being acquired from Cleveland in 2019.

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