Donovan Mitchell agrees to $150 million contract extension with Cavaliers
Star guard Donovan Mitchell has made his commitment to the Cavaliers, agreeing to a three-year contract extension worth $150.3 million, with the final year being a player option, ESPN reported Tuesday morning.
After the Knicks attempted to trade for Mitchell ahead of the 2022-23 season, Cleveland swooped in for the All-Star and now has him locked in as it looks to make a championship push.
Mitchell posted video of a scene from “Wolf of Wall Street” on X to celebrate the announcement, with Leonardo DiCaprio’s character Jordan Belfort saying, “I’m not f—ing leaving.”
The massive extension sets the Cavaliers guard to cash in again later, with Mitchell potentially eligible for a five-year, $380 million deal in 2027.
Now, all eyes will be on running mate Darius Garland, as previous reports suggested that he will ask for a trade if the team chose to re-sign Mitchell.
The Athletic reported soon after the season ended that Garland’s agent, Rich Paul, would discuss with Cavaliers president Koby Altman a potential move to a better fit.
Garland took a step back in 2023-24 while playing second-fiddle to Mitchell, with the rest of the roster attempting to come together.
Mitchell’s options outside of Cleveland are likely to be scarce, as salary-cap space is tough to come by, and teams are anxiously avoiding the second-apron tax penalties.
The Nets were another team that seemed like they could make a move for Mitchell, but they instead decided to wave the white flag this upcoming season in an attempt to get a higher draft pick and land incoming Duke freshman Cooper Flagg or another top prospect.
Mitchell won’t be eligible to be moved again until January 2025.
The Celtics ended the Cavaliers’ playoff hopes in five games during the second round, but Mitchell did not finish that series due to injury.
