The Utah Jazz is reportedly preparing to give shooting guard Gordon Hayward a lucrative extension deal before his rookie contract expires at the end of next season, a source close to situation reported on Tuesday.

Hayward, who averaged 14.1 points, 3.0 rebounds and 3.0 dimes per game last season, is expected to be target of several NBA teams, if the Jazz failed to come up with an extension deal.

At age 23, Hayward has emerged as one of the better youngsters in the NBA with the ability to rack up solid numbers on both ends of the floor consistently.

According to Marc Stein of ESPN, the Jazz will do everything to lock in the versatile swingman. The team is reportedly set to offer Hayward more money than the four-year, $49 million extension deal signed by Derrick Favors last week.

Before his NBA career, Hayward played for the Butler Bulldogs and almost led the team to a National Title in 2010. The Bulldogs, who were then coached by now Boston Celtics mentor Brad Stevens, fell to the Duke Blue Devils 61-59 in a nail-biting title game in Indiana.

"Heard first strong rumbles this weekend that Gordon Hayward, like Derrick Favors, will indeed get extension from Jazz before Oct. 31 buzzer," Stein tweeted.