Cleveland Cavs 2024 NBA free agency live updates. Jarrett Allen signs contract extension
The Cavaliers made a coaching change this offseason in an attempt to better position themselves for a championship.
It's the explanation Cavs president of basketball operations Koby Altman publicly provided May 24 while discussing the firing of coach J.B. Bickerstaff, whom the Detroit Pistons hired June 30.
Now Altman must bolster the roster new Cavs coach Kenny Atkinson will guide as the franchise tries to transform into a legitimate title contender coming off back-to-back playoff appearances, the most recent one ending with a 4-1 series loss to the eventual NBA champion Boston Celtics in the Eastern Conference semifinals.
NBA free agency began at 6 p.m. Sunday, June 30. Check back here for Cavs moves.
Cavs and Jarrett Allen strike deal on contract extension
On July 31, the Cavs and center Jarrett Allen agreed to a three-year, $91 million contract extension. The team announced Aug. 2 Allen signed the extension.
“We couldn’t be more excited that Jarrett Allen chose to extend in Cleveland for the prime of his career," Altman said in a news release. “Jarrett’s growth as a player, at just 26 years old, was accelerated when he earned his first All-Star selection in 2022. He is the anchor of our core group of players and his presence fits our vision for sustainable success. Jarrett also embodies the culture and values of our organization, and we look forward to achieving even greater things together.”
Cleveland Cavaliers announce Evan Mobley has signed his massive contract extension
On July 22, the Cavs announced forward Evan Mobley signed his maximum rookie contract extension. See more about the deal below.
“We are thrilled to sign Evan to a long-term extension, solidifying his place as a cornerstone of our franchise,” Altman said in a news release. “Evan has quickly established himself as one of the premier defensive players in the league, and we’ve only scratched the surface of his overall potential.
“Since drafting him, he only knows winning basketball and has proven to be pivotal to our team’s success. His exceptional work ethic, versatility, and commitment to excellence both on and off the court truly embody what it means to be a Cleveland Cavalier. We believe Evan’s best basketball is still ahead of him, and we couldn’t be more excited to continue building something special together for many years to come.”
Cavs reach agreement with Evan Mobley on max rookie contract extension
On July 20, forward Evan Mobley and the Cavs reached an agreement on a five-year, $224 million maximum rookie contract extension, which could become worth as much as $269 million, a league source told the Beacon Journal, confirming an ESPN report. Before striking the deal, Mobley had been under contract through the 2024-25 season.
For more about the extension and how the Cavs view their investment in Mobley, read this story.
Cleveland Cavs announce they have signed Donovan Mitchell to contract extension
The Cavs announced on July 7 they signed Donovan Mitchell to the five-time All-Star guard's previously reported contract extension. See more on the Mitchell deal below.
“Signing Donovan Mitchell to an extension serves as a pivotal moment for our franchise and reinforces our vision and goals for sustainable success,” Altman said in a news release. “Donovan is one of the most dynamic All-NBA players in the league and we couldn’t be more excited that he chose Cleveland and this community to continue his basketball journey. We want to align ourselves with the best teams in the NBA and ultimately compete for Championships, and we feel securing Donovan long-term provides us that opportunity.”
Cavs All-Star guard Donovan Mitchell agrees to sign contract extension
Mitchell has agreed to a three-year, $150.3 million contract extension with the Cavaliers, an NBA source told the Beacon Journal on July 2, confirming an ESPN report. Mitchell is a five-time All-Star, including the last two seasons with Cleveland. Read more about the deal here, including when Mitchell can officially sign the extension.
Cleveland Cavs sign first-round draft pick Jaylon Tyson
The Cavs signed first-round draft pick Jaylon Tyson to his rookie contract, the team announced July 3. The Cavs used their lone 2024 selection to take Tyson 20th overall.
Akron native and Cavs legend LeBron James strikes a deal to re-sign with the Los Angeles Lakers
LeBron James agreed to a two-year, $104 million contract with the Los Angeles Lakers, The Athletic reported July 3. James will have a no-trade clause and a player option for next summer, meaning the Akron native who won a championship with the Cavaliers in 2016 could become a free agent then, according to the report.
James returning to the Lakers had been expected. They drafted his oldest son, Bronny, in the second round (No. 55 overall) on June 27 and hired his former podcast partner JJ Redick as head coach on June 20.
Former Cavaliers forward Kevin Love signing two-year deal with Miami Heat
Former Cavs forward Kevin Love reached an agreement June 30 with the Miami Heat on a two-year deal worth more than $8 million, according to a report by The Athletic.
Love, 35, last season saw his minutes per game (16.8) drop below 20 for the first time in his career. With the Heat, he averaged 8.8 points and 6.1 rebounds.
Here is a Cavaliers 2024 free agency primer:
When does NBA free agency start?
There are a few key dates to know.
- The 2023-24 season ended on June 17 with the Celtics defeating the Dallas Mavericks in Game 5 of the NBA Finals. On June 18, each NBA team could begin negotiating with soon-to-be free agents who finished last season on its roster.
- Beginning at 6 p.m. Sunday, June 30, each NBA team may begin negotiating with all other impending free agents.
- Each NBA team may begin signing free agents to contracts at 12:01 p.m. Saturday, July 6.
Will the Cavs re-sign Donovan Mitchell?
Altman has expressed optimism the Cavs will be able to sign five-time All-Star guard Donovan Mitchell to a contract extension this offseason. The deal could be up to four years and worth $209 million.
"My exit interview with [Mitchell] was really good in that he was talking about the future and how excited he was about the team, the organization," Altman said on May 24. "This is a player that has had two of the best years of his career here, has had a lot of success here, understands the infrastructure. I think has a lot of trust in what we're doing and understands that our goal is to win a championship."
As this offseason has progressed, Mitchell has sent signals via social media suggesting he still feels good about the Cavs. For example, Mitchell showed support for Cavs center Jarrett Allen with an Instagram post amid perceived criticism from Bickerstaff about Allen missing Cleveland's final eight playoff games with a fractured rib. Mitchell also posted a photograph of himself wearing a Cavs T-shirt while working out overseas.
Mitchell is under contract next season and has a $37 million player option for 2025-26. However, in the event Mitchell surprises the Cavs by declining to sign an extension this offseason, they would likely be compelled to trade Mitchell to avoid losing him after the upcoming season without compensation.
Will Cavs keep their 'core four' of Donovan Mitchell, Darius Garland, Evan Mobley and Jarrett Allen intact?
As long as Mitchell re-signs, he and forward Evan Mobley would form the Cavs' foundation. But would Altman break up Mitchell and point guard Darius Garland or split up Mobley and Allen? Or is Altman determined to see the group with an offensive-minded coach (Atkinson) at the helm.
In Altman's May 24 news conference, he expressed a desire to keep the "core four" intact.
"Way more data speaks to how much more success we've had with this group than it does, I think, the outside perception of fit," Altman said. "We've won too many games [to want to break it up]. We've had playoff success, and we're still young."
There's no telling whether a trade proposal will materialize to change Altman's stance about this. Yet, the way Altman talks, it would probably need to be a "Godfather offer" — one he simply couldn't refuse.
By the way, Allen and Cavs sixth man Caris LeVert played for Atkinson during his head coaching tenure with the Brooklyn Nets (2016-20).
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Cavs needs in NBA free agency
The skill set the Cavs need the most is shooting. A legitimate two-way wing is the roster upgrade capable of elevating them to another level. And depth at small forward and center is on the wish list.
Cavs pick Jaylon Tyson in 2024 NBA draft Round 1
The Cavs had one pick in the 2024 NBA draft, and they used it to select Cal wing Jaylon Tyson in the first round (No. 20 overall) on June 27.
Jaylon Tyson to Cavaliers in NBA draft:Instant grade, analysis, stats for 20th pick
Cavs 2024 free agents
- Small forward Isaac Okoro (restricted)
- Wing Emoni Bates (restricted)
- Forward Isaiah Mobley (restricted)
- Forward Marcus Morris Sr. (unrestricted)
- Forward Pete Nance (restricted)
- Center Tristan Thompson (unrestricted)
- Center Damian Jones (unrestricted)
For the Cavs, Okoro is the top priority to retain among their own free agents. Because he's a restricted free agent, the Cavs would have the right to match the terms of an offer sheet should he sign one from another team.
The fifth overall pick in the 2020 NBA draft, Okoro is eligible for an $11.8 million qualifying offer. He is Cleveland's best perimeter defender.
Nate Ulrich can be reached at nulrich@thebeaconjournal.com. On Twitter:@ByNateUlrich.