Before the move, the Thunder already had 12 first-round picks above and beyond their own -- some of which they can swap -- over the next five drafts.
Oklahoma City traded the No. 16 pick in Thursday's NBA draft to the Houston Rockets for two future first-rounders -- in 2022 (via the Pistons) and 2023 (via the Wizards). The Rockets then used the selection to pick Alperen Sengun.
Favors, a 30-year-old center who has played nine of his 11 NBA seasons with the Jazz, averaged 5.4 points and 5.5 rebounds last season. He has also spent time with the Nets and Pelicans during his career.
The 2027 pick heading to the Jazz is the least favorable of Oklahoma City's four second-round picks.
The trade gets Utah $13 million below the luxury tax, with the Jazz likely to be hit with a lesser financial penalty if they bring back Mike Conley.