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Donovan Mitchell and the Cleveland Cavaliers have agreed to a three-year, $150.3 million maximum contract extension. Mitchell will hold a player option for the 27-28 season. Mitchell now has $185 million over four seasons in guaranteed money. Mitchell will have the opportunity to pursue a five-year extension in 2027 worth more than $380 million when he will have accrued 10 years of service.

Mitchell’s future was believed to be uncertain for large stretches of the 23-24 season, but he was expected to commit to an extension following the dismissal of J.B. Bickerstaff as head coach. Mitchell could have come a free agent in 2025 without an extension.

Cleveland acquired Mitchell from the Utah Jazz in 2022 for a number of future first round picks, Lauri Markkanen and Collin Sexton.

Mitcehll is represented by Ty Sullivan and Austin Brown of CAA. The deal was agreed upon on Saturday, but the sides waited until Tuesday morning to reveal it to the media.