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The Cleveland Cavaliers and All-Star guard Donovan Mitchell have reportedly agreed to a three-year, $150,3 million maximum contract extension, which includes a player option for the 2027-28 season, sources with knowledge of the situation confirmed to ESPN's Adrian Wojnarowski on Tuesday (July 2).
"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," Wojnarowski wrote on his X account.
Mitchell, 27, appeared to confirm the report by sharing Leonardo DiCaprio's "I'm not leaving" speech from the film The Wolf of Wallstreet on his X account Tuesday morning.
The deal delivers Mitchell a guaranteed four years, $185 million total and the opportunity to reach the NBA's 10-year service criteria, which would allow him to pursue a five-year extension potentially exceeding $380 million in 2027, according to Wojnarowski.
Mitchell and his agent Austin Brown of CAA Basketball met with Cavaliers President of Basketball Operations Koby Altman in Los Angeles on Saturday (June 29) night, at which point the two sides reportedly reached an agreement, the sources confirmed. The All-Star's willingness to commit to the franchise long-term reportedly comes from his confidence in the front office to keep building toward a championship contender, according to the sources.
Mitchell was acquired by the Cavaliers in a blockbuster trade with the Utah Jazz in 2022 and Cleveland has made the playoffs during each of the past two seasons, which included an Eastern Conference semifinals appearance last season. The former Louisville standout averaged 26.6 points, 4.6 assists and 4.3 rebounds during the 2023-24 NBA regular season and 29.6 points, 5.4 rebounds and 4.7 assists during the 2024 NBA Playoffs.