Donovan Mitchell, Cavaliers Agree to Three-Year, $150.3M Contract Extension

Five-time All-Star guard Donovan Mitchell and the Cleveland Cavaliers have agreed to a three-year, $150.3 million maximum contract extension that includes a player option for the 2027-28 season, according to ESPN's Adrian Wojnarowski.

Cleveland Cavaliers guard Donovan Mitchell could pursue a five-year extension worth more than $380 million in 2027

The deal allows the Cavaliers to keep their franchise player under contract beyond next NBA season. As for Mitchell, it delivers a guaranteed four years, $185 million total and a chance to reach the league's 10-year service criteria. This would give Mitchell the greenlight to seek 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 on Saturday in Los Angeles and reached an agreement on the extension, sources informed Wojnarowski.

BREAKING: Cleveland Cavaliers All-Star guard Donovan Mitchell has agreed on a three-year, $150.3 million maximum contract extension that includes a player option for the 2027-2028 season, sources tell ESPN. pic.twitter.com/Vu6QXGyK57

— Adrian Wojnarowski (@wojespn) July 2, 2024

According to ESPN's report, Mitchell committed to a new contract after the Cavaliers informed the seven-year veteran and his representatives that the organization intends to continue building a championship roster.

In September 2022, the Cavaliers acquired Mitchell in a trade with the Utah Jazz that dealt Ochai Agbaji, Lauri Markkanen, Collin Sexton, three unprotected first-round picks (2025, 2027, 2029), and two pick swaps in 2026 and 2028.

Mitchell scored a combined 89 points in Games 6 and 7 of the Cavs' 2024 first-round playoff series victory

Furthermore, in 55 games (all starts) of the 2023-24 season, Mitchell averaged 26.6 points and career highs of 5.1 rebounds, 6.1 assists, and 1.8 steals per game while shooting 46.2% from the field and 36.8% from 3-point range.

Mitchell had 89 points in Games 6 and 7 of Cleveland's first-round playoff series victory over the Orlando Magic, second most in NBA postseason history for Games 6 and 7, per ESPN Stats & Information.

Additionally, Mitchell is the first guard to average a minimum of 20 points in each of his first seven seasons since NBA Hall of Famer and Philadelphia 76ers legend Allen Iverson.

In Cleveland's 145-134 overtime win against the Chicago Bulls on Jan. 2, 2023, Donovan Mitchell scored a career-high 71 points and scored or assisted on 99 points, the second-most in NBA history since Wilt Chamberlain.

Of course, Chamberlain scored or assisted on 104 points from his 100-point outing versus New York on March 2, 1962. Mitchell became the first player in NBA history to record over 70 points and 10 assists in a single game.