The Utah Jazz are preparing a three-year, $75 million offer to Mike Conley in free agency, sources tell Marc Stein.

The Jazz traded for Conley during the 2019 offseason and he made his first All-Star team this past season as an injury replacement.

The Jazz traded away Derrick Favors in the hours after the draft to clear salary to help facilitate re-signing Conley.

The Utah Jazz have agreed to trade Derrick Favors and a future first round pick to the Oklahoma City Thunder for a future second round pick.

The Jazz will create financial flexibility with the move as they attempt to re-sign Mike Conley Jr. in free agency.

Mike Conley Jr. is likely to re-sign with the Utah Jazz in free agency, sources tell Tony Jones of The Athletic. Conley is expected to receive interest from the Dallas Mavericks and others.

The Jazz acquired Conley from the Memphis Grizzlies during the 2019 offseason.

Utah is expected to unload some existing salary to meet Conley's salary demands while making their potential luxury tax bill tolerable for their ownership.

Conley became an All-Star for the first time in his career in 2021.

The Dallas Mavericks have shown interest in both Kyle Lowry and Mike Conley Jr., sources tell Brian Windhorst of ESPN.

The Mavericks would like to ease the ball handling and playmaking burden on Luka Doncic.

Lowry is expected to be one of the most coveted free agents on the market who will be able to pick of money, title contention and situation.

Conley will be a free agent after two seasons with the Utah Jazz. The Jazz would like to re-sign Conley but they have luxury tax concerns. League executives, however, tell ESPN that Conley is most likely to stay with the Jazz.

Danny Ainge left the Boston Celtics this offseason and he has since been linked with a position with the Utah Jazz. Ainge is a close friend of Utah owner Ryan Smith. The Jazz parted ways with Dennis Lindsey this offseason with Justin Zanik taking over the front office. 

“I want to work again,” Ainge said from the West Coast this past week. “I just don’t want to do the crazy lifestyle that I had for the last 18 years. I have nothing right now. I just got done with a long walk and swim this morning. And taking my wife to tennis. We just got back from spending lots of time with our parents that we haven’t seen since the pandemic started, so we had some good times with our family and there’s nothing on the horizon as I see it. The [Massachusetts] house is for sale but we’re not moving for sure. We’re not certain on that.”

Ainge ran the Celtics since 2003 and was replaced by Brad Stevens. 

Mike Conley will be a free agent this offseason and the Utah Jazz "want [him] back and will make every attempt to keep the All-Star in a Jazz uniform once free agency begins."

The Jazz traded for Conley in 2019 and he was an All-Star this past season.

With Utah's cap situation, they would be unable to find a meaningful replacement should Conley leave in free agency. With the Jazz wanting Conley back, the question will be whether he wants another opportunity. Conley went on-the-record with his plan to take a wait and see approach. Conley also figures to receive interest from other teams in free agency. 

Conley is expected to receive a contract in the $15 million to $20 million per year range.