Sources – Donovan Mitchell, Cavaliers agree to 3-year, $150.3M extension

Cleveland Cavaliers All-Star guard Donovan Mitchell has agreed to a three-year, $150.3 million max contract extension that includes a player option through the 2027-28 season, sources told ESPN.

The deal gives the Cavaliers the stability to keep their franchise under contract beyond next season. For Mitchell, that gives him four guaranteed years, now totaling $185 million, and a chance to reach the league’s 10-year service benchmark, which would allow him to pursue a five-year extension in 2027 worth more than $380 million.

Mitchell and his agent, Austin Brown — CAA’s co-president of basketball — met with Cavaliers president of basketball operations Kobe Altman on Saturday in Los Angeles to reach an agreement on the extension, sources said. A significant part of Mitchell’s confidence in entering into a new contract comes with an alignment in the partnership of his and his rep’s belief in building the Cavaliers into a championship contender and how they will play a role in doing that. Sources said.

Since acquiring Mitchell from the Utah Jazz at the trade deadline two years ago, the Cavaliers have made consecutive playoff appearances — including a run to the Eastern Conference semifinals last season.

According to ESPN Stats and Information Research, Mitchell had 89 points in Games 6 and 7 of the opening-round playoff series win over the Orlando Magic.

Mitchell, 27, entered the 2023-24 season after averaging 26.6 points in five seasons as an All-Star — tied only with LeBron James for as many seasons, according to ESPN Stats & Info.

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Mitchell is the first guard since Allen Iverson to score at least 20 points in each of his first seven NBA seasons. He also averaged solid assists (6.1) and steals (1.8) a year ago — tied for third in steals per game and sixth in the league in deflections.

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