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Derrick Favors agrees to two-year, $36 million deal to stay with Utah Jazz

Utah Jazz forward Derrick Favors talks to journalists at the Zions Bank Basketball Center in Salt Lake City on Wednesday, May 9, 2018.
Utah Jazz forward Derrick Favors talks to journalists at the Zions Bank Basketball Center in Salt Lake City on Wednesday, May 9, 2018.
Spenser Heaps

SALT LAKE CITY — Good news arrived for Utah Jazz fans on Monday afternoon.

Utah forward Derrick Favors has decided to end his unrestricted free agency by re-signing with the organization.

Favors has agreed to a two-year deal worth $36 million, according to a Deseret News source. The second year of the deal is not guaranteed, the source said.

On Sunday, he met with Jazz brass, along with his agent Wallace Prather, for three hours at a hotel in his hometown of Atlanta. Favors’ team was also in talks with a couple of other teams but decided to stay in Salt Lake City.

“I’m really excited,” Favors’ Jazz teammate Donovan Mitchell told the Deseret News. “That’s big time. I’m really proud of him.”

On Sunday, the Jazz also guaranteed Thabo Sefolosha’s $5.2 million contract for next season. Favors and Sefolosha are locker room favorites for the Jazz, each effective on both ends of the floor.

Now the focus will shift to keeping restricted free agents Raul Neto and Dante Exum.

The team also has until July 9 to decide on whether or not to guarantee the contracts for Jonas Jerebko ($4.2 million) and Ekpe Udoh ($3.4 million).

Favors has said all along that he wanted to remain a Jazzman after representing the squad for the past seven-plus seasons but understood the business side of things. He was an integral piece of the Jazz’s 48-win season and second-round playoff appearance after averaging 12.3 points, 7.2 rebounds and 1.1 blocks per game.