Report: Jazz fail to extend George Hill before deadline

The clock has struck midnight, meaning point guard George Hill of the Utah Jazz will become an unrestricted free agent this summer.

The two parties were unable to come to terms before Tuesday's 11:59 p.m. ET deadline, sources told ESPN's Tim MacMahon, though the franchise reportedly remains committed to bringing Hill back as part of its long-term plans.

Now that the deadline has passed, the team can only sign the 30-year-old to a new deal in free agency.

On an extension, Hill was eligible to make $88.3 million at most on a three-year deal running through 2019-20 (that includes annual raises of 7.5 percent and Utah's $13.6 million in remaining cap space this season). He's currently making an even $8 million in the final year of his contract.

In free agency, Hill could either sign a four-year deal with a new team, or remain in Salt Lake City on a five-year deal.

In 34 appearances this season prior to Tuesday's game against the Oklahoma City Thunder, Hill averaged 17.7 points, 3.4 rebounds, and four assists on 47.9 percent shooting from the field, and 41.3 percent from 3-point range.