Paul Millsap has an offer on the table from the Jazz. (Getty Images)

The Jazz are ready to pay up, again, for Paul Millsap. But he might be ready to test the waters.

According to the Salt Lake Tribune, the Jazz have offered Millsap, who is entering the final year of his contract, a big extension.

The sturdy six-year veteran was offered a three-year extension worth about $25 million, The Salt Lake Tribune has learned, which is the maximum extension Millsap can receive under the new collective bargaining agreement," he wrote. "The proposed deal features an annual 7.5 percent raise, would kick in after Millsap's current contract expires June 2013, and could keep the career Jazzman in a Utah uniform through June 2016.

The three-year, $25 million extension is the most the Jazz can offer. And it's also the same three-year extension you never see a player sign. It's for fewer years and the number is capped as to what Millsap can receive. So as the report says, he's looking at free agency in 2013.

Initial indications are Millsap won't agree to the extension, though," Smith said. "preferring to enter free agency in 2013 with plans to cash in on an inflated 2012 market that saw mid-tier forwards such as Gerald Wallace, Andrei Kirilenko, Nicolas Batum and Ryan Anderson recently receive lucrative multiyear contracts.

Millsap has quietly remained one of the most productive per minute power forwards in the game, but the Jazz have built a small logjam in their front line with Derrick Favors, Enes Kanter and Al Jefferson.

Which makes it a challenge for the Jazz to not only pay up to keep Millsap, but also makes you wonder how much room for playing time there is for him in the future with that trio.

Millsap signed a four-year, $32 million offer sheet with Portland in 2009, to which the Jazz matched. And with the way recent free agency has gone with non-star players like Ryan Anderson, Gerald Wallace and Nicolas Batum getting major long-term deals, Millsap is wise to eye free agency. The free agent market looks favorable for Millsap next summer too as he'll be one of the more desired players on it.

Millsap, 27, averaged 16.6 points and a career-high 8.8 rebounds per game in 64 games last season.