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

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

The deal gives the Cavaliers the stability of having their franchise player under contract beyond next season. For Mitchell, it provides a guaranteed four-year, $185 million total now and a chance to meet the league’s 10-year service criteria, which would allow him to pursue a five-year extension worth more than $380 million in 2027.

Mitchell and his agent, Austin Brown — co-head of CAA Basketball — met with Cavaliers president of basketball operations Koby Altman in Los Angeles on Saturday and reached an agreement on the extension, sources said. A big part of Mitchell’s belief in reaching a new deal stems from his and his agent’s confidence in the organization’s ability to continue building the Cavaliers into a championship contender and an agreement on a partnership about how they will play a role in doing so together, sources said.

Since acquiring Mitchell from the Utah Jazz at the trade deadline two years ago, the Cavaliers have made two playoff appearances, reaching the Eastern Conference semifinals last season.

According to ESPN Stats & Information research, Mitchell had 89 points in Games 6 and 7 of the opening round playoff series against the Orlando Magic. That is the second-highest total in NBA postseason history for Games 6 and 7.

Mitchell, 27, has been an All-Star in five consecutive seasons and is averaging 26.6 points in the 2023-24 season, the only player in franchise history to do so in multiple seasons, according to ESPN Stats & Information.

Mitchell is the first guard to average at least 20 points in each of his first seven NBA seasons since Allen Iverson. He also averaged career highs in assists (6.1) and steals (1.8) a year ago — he ranked third in steals per game and sixth in deflections leaguewide.