The Utah Jazz has locked up a big part of their success last year, re-signing Derrick Favors to a new contract according to Marc J. Spears of the Undefeated.

The deal is for $36 million over two years and makes sense for both sides.

Favors had said that he wanted to come back, and the Jazz had expressed interest in re-signing him, so it seemed like only a matter of time before a deal would get done.

“I know they want me back, and I want to come back,” Favors said to the Salt Lake Tribune. “But, it’s a business and a numbers game, so we’ll have to see.”

“I’m really looking forward to next season. A lot of what will happen depends on other players and other teams.”

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Favors was selected with the third pick in the 2010 draft by the Brooklyn Nets but didn't even spend a full season with them before coming over to the Utah Jazz. He has been a solid player with the Jazz but maybe hasn't lived up the expectations that come with being the third overall pick.

Last year Favors played 77 games averaging 12.3 points, 7.2 rebounds, and 1.3 assists. Favors wasn't the only deal that the Jazz were able to get done on Monday. They also guaranteed Thabo Sefelosha's $5.2 million contract for next year.

Sefelosha is recovering from a torn MCL suffered last season, but he is expected to be healthy when the season starts, and will be a good locker room presence that the Jazz will be happy to have back.