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

Cleveland Cavaliers All-Star Guard Donovan Mitchell agreed to a three-year, $150.3 million maximum contract extension that includes a player option for the 2027-2028 season, sources told ESPN.

The deal offers the Cavaliers the stability of their franchise player under contract beyond next season, and gives Mitchell a four-year guaranteed contract totaling $185 million now and the opportunity to meet the league’s 10-year service criterion that would allow him 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 came to an agreement on the extension, sources said. A big part of Mitchell’s conviction to commit to a new deal is because he and his agent are confident the organization will continue to build the Cavaliers into a championship contender and that they will agree on how they will engage in the process together, sources said.

Since acquiring Mitchell from the Utah Jazz At the trade deadline two years ago, the Cavaliers had made back-to-back playoff appearances, including advancing to the Eastern Conference semifinals last season.

Mitchell had 89 points in Games 6 and 7 of a first-round playoff series win over the Orlando Magicthe second-most in NBA postseason history in Games 6 and 7, according to ESPN Stats and Information.

Mitchell, 27, has been an All-Star in five consecutive seasons and averaged 26.6 points in the 2023-2024 season, joining only Lebron James in franchise history to do so in multiple seasons, according to ESPN Stats and Information.

Mitchell is the first point 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, ranking third in steals per game and sixth in deflections in the league.