Gordon Hayward and the Utah Jazz continue to discuss a contract extension ahead of the Oct. 31 deadline.

Hayward would become a restricted free agent this coming offseason if he is unable to agree to an extension with the Jazz.

Reports suggest Hayward would only agree to an extension bigger than the four-year, $49 million deal that Derrick Favors recently agreed to with the Jazz.

Talks are expected to go down to the wire.

The Utah Jazz announced today that the team has elected to exercise its fourth-year team options for center Enes Kanter and guard Alec Burks. T

The options for both players are through the 2014-15 season.

Burks (6-6, 205, Colorado) is entering his third NBA season after appearing in 64 games (all as a reserve) and averaging 7.0 points, 2.3 rebounds and 1.4 assists in 17.8 minutes during his sophomore season for the Jazz in 2012-13.

The 21-year-old Kanter (6-11, 248, Kentucky) is also entering his third NBA season after appearing in 70 games (two starts) for the Jazz in 2012-13 and improving his averages in every major statistical category over his rookie campaign.

The Utah Jazz are far apart on contract extension talks with Gordon Hayward and do not have a baseline for an agreement, according to sources.

Hayward has an Oct. 31 deadline to reach a new deal. If an extension is not reached by then, Hayward will become a restricted free agent next offseason.

Two teams with ample salary-cap space have head coaches – Boston's Brad Stevens and Phoenix's Jeff Hornacek – who have history with Hayward and think highly of his talent.

Hayward, 23, averaged 14.1 points and 3.1 rebounds last season.

The Utah Jazz have signed Jamaal Tinsley and waived Brian Cook, Justin Holiday, Lester Hudson, Scott Machado and Dominic McGuire, the team announced on Saturday.

Tinsley had been widely reported as receiving interest from the Jazz.

Cook, Holiday, Hudson, Machado and McGuire all were under training camp deals.

Jimmer Fredette has had a slow start to his NBA career, but he did average 18 points per 36 minutes while hitting 41 percent of his three-point shots.

Fredette's minutes were inconsistent last season and the guard position is still crowded for the Sacramento Kings.

Multiple NBA executives told the Salt Lake Tribune that joining the Utah Jazz would make sense for both Fredette and the franchise.

Fredette remains hugely popular in Utah due to his time at BYU, while he would also give the Jazz a needed floor spacer.

Gordon Hayward and the Utah Jazz are expected to agree to an extension before the Oct. 31 deadline.

Hayward's deal is likely to be more lucrative than the four-year, $49 million extension teammate Derrick Favors signed last week.

Hayward has a lot of admirers in front offices around the NBA and would be a highly coveted restricted free agent target if a deal is not reached.

Richard Jefferson played sparingly for the Golden State Warriors last season and is seeking to re-establish himself as a role player on the Utah Jazz.

"Last year for me was a very difficult year," said Jefferson, who averaged career lows in minutes played and points scored last season. "So I look forward to the opportunity to play someplace else and kind of re-establish myself as a quality player."

Jefferson is embracing his role as a veteran leader on the young Jazz and has developed a relationship with Tyrone Corbin.

"I love everything coach does," Jefferson said with a smile. "I think we have a mutual understanding and respect. If he asks me to do something, he knows I’m going to give 100 percent effort, without ego. … Whatever he wants my role to be I’m going to embrace it."

Derrick Favors has agreed to a four-year, $49 million contract extension with the Utah Jazz.

The deal includes bonus incentives that could push the value for Favors well over $50 million.

Favors was acquired by the Jazz in 2011 in a trade involving Deron Williams.

In 23.2 minutes per game a season ago, Favors averaged 9.4 points and 7.1 rebounds.

The Utah Jazz are expressing a level of interest in Jamaal Tinsley.

“He’s a guy who knows our system,” Tyrone Corbin said.

Tinsley played with the Jazz last season.

The Jazz lost Trey Burke on Saturday to a fractured index finger.

The Utah Jazz have waived center/forward Dwayne Jones II. 

Jones II (6-11, 250, Saint Joseph’s) appeared in one preseason game for Utah.