Report: Cavs, Mitchell agree to 3-year, $150.3M max extension

The Cleveland Cavaliers agreed to a three-year maximum contract with guard Donovan Mitchell worth $150.3 million, sources told ESPN's Adrian Wojnarowski.

Mitchell's new deal overwrites the $37-million player option he held for 2025-26. It will run through the 2027-28 season, with another player option in the last year.

The three-year deal will bring Mitchell to 10 years of service by 2027-28. He'd then be eligible to sign a contract that would pay him up to 35% of the cap in Year 1.

Without a long-term agreement, Mitchell likely would have entered unrestricted free agency next summer, which may have compelled the organization to explore an offseason trade to avoid the risk of losing the five-time All-Star for nothing. However, Mitchell reportedly felt confident about the front office's plan to continue elevating the club into a legitimate title contender.

Mitchell was the Cavaliers' top scorer last season at 26.6 points per game, a considerable gap from Darius Garland (18 points) in second. He also averaged 6.1 assists and was the squad's third-best rebounder with 5.1 boards per contest. In 2022-23, his first year in Cleveland following an offseason trade from the Utah Jazz, the Louisville product averaged a career-high 28.3 points.

A bone bruise in Mitchell's left knee limited him to 11 regular-season appearances following the All-Star break. He appeared to be in good health for the start of the Cavaliers' postseason run, scoring 30 points in their playoff opener against the Orlando Magic and averaging 28.7 points in the seven-game first-round series. However, he missed Cleveland's final two contests in their subsequent series against the Boston Celtics due to a calf issue as the Cavs fell in five games.