The Cleveland Cavaliers’ five-time All-Star guard has agreed to a lucrative three-year contract extension worth $150.3 million, according to a source familiar with the decision who spoke to The Associated Press on Tuesday.
Mitchell’s commitment to stay with the Cavaliers was widely anticipated, though there was some apprehension among Cleveland fans, likely stemming from the departure of LeBron James in 2010. Despite this, Mitchell has consistently expressed his happiness playing in Cleveland since joining the team in a trade from Utah in 2022.
The extension, negotiated in Los Angeles over the weekend, includes a $54 million player option for the 2027-28 season. This deal positions Mitchell to potentially become a free agent in three years, adding urgency for the Cavaliers to contend for a championship.
Furthermore, the extension allows Mitchell to meet the NBA’s 10-year criteria, making him eligible for an even larger future extension potentially worth $380 million.
Shortly after news of the extension broke, Mitchell shared a video on social media reaffirming his commitment to Cleveland, echoing sentiments he expressed while discussing the extension during a drive.
Mitchell, who was in Los Angeles hosting his basketball camp, met with Cavaliers executives who confirmed his dedication to the team’s future plans. His arrival in Cleveland via trade two years ago marked a significant turning point for the franchise, accelerating their rebuild after LeBron James’ departure.
Despite being limited by injuries this past season, Mitchell’s impact on the court has been profound, averaging 27.5 points, 5.2 assists, and 4.6 rebounds per game during his tenure with the Cavaliers.
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