NBA Trade Rumors: Utah Jazz sending veteran center Derrick Favors to Oklahoma City Thunder

Derrick Favors signed a three-year deal with the Utah Jazz only last summer, but he may be moved to the Oklahoma City Thunder as per the latest NBA trade rumors. Favors starred as a backup center for the Jazz last season but saw extremely limited playing time in the 2021 NBA Playoffs.

The Oklahoma City Thunder entered Thursday's draft in need of centers but did not select a suitable big man to fill that hole. As per ESPN's Adrian Wojnarowski, the Thunder are set to meet that need by acquiring Derrick Favors from the Utah Jazz.

The Utah Jazz have agreed to trade C Derrick Favors and a future first-round pick to the Oklahoma City Thunder for a future second-round pick, sources tell ESPN. Jazz create some financial flexibility and Thunder grab another first-rounder.

— Adrian Wojnarowski (@wojespn) July 30, 2021

Derrick Favors has played 11 seasons in the NBA, 10 of them with the Utah Jazz. He's averaged 11.4 points, 7.2 rebounds and 1.3 blocks during this period with the Jazz.

NBA Trade Rumors: What's next for Utah Jazz, Oklahoma City Thunder and Derrick Favors?

If it wasn't clear already, this is a salary dump move from the Utah Jazz, who are trying to stay below the luxury tax apron this season. Derrick Favors is owed roughly $19.9 million over the next two years, including a player option for the second year.

Thunder GM Sam Presti

The Oklahoma City Thunder had the cap space to absorb Favors' contract and were rewarded with a first-round pick in the process. The specifics of this pick aren't available as of this writing, but you can expect it to be lottery protected at the very least. Utah will also be getting a future second-rounder from OKC.

Donovan Mitchell look-away to Derrick Favors!Utah up 16 with 4:41 left on NBA TV pic.twitter.com/bLdmZbKuRo

— NBA (@NBA) January 20, 2021

This is a mutually beneficial trade where the Oklahoma City Thunder are not only filling a need but also getting a veteran leader for their locker room. They've picked up a future asset in the process, too. Meanwhile, the Utah Jazz have gone $13 million below luxury tax. That number won't matter if they re-sign Mike Conley, but the luxury tax bill is going to be on the lower side if he is indeed brought back.