Donovan Mitchell doesn't hesitate, agrees to $273M extension with Cavaliers

Even though he left money on the table, Cavaliers shooting guard Donovan Mitchell wasted no time in committing to Cleveland. On the first day he could sign, the second-team All-NBA guard agreed to a four-year, $273 million maximum contract extension that includes a player option for the 2030-31 season and a full trade kicker, ESPN reported. Mitchell and his agent, Austin Brown, met with Cavs owner Dan Gilbert and president of basketball operations Koby Altman and quickly reached an agreement. Getting Mitchell signed long-term was one of the team's main offseason goals. The deal kicks in for the 2027-28 season and features an 8 percent raise each year in addition to a 15 percent trade kicker. Based on a projected $174 million salary cap for 2027-28, the breakdown of the contract, per Hoops Rumors, is as follows: 2027-28: $60,911,900 (35 percent of the cap) 2028-29: $65,784,852 2029-30: $70,657,804 2030-31: $75,530,756 (player option) The total value of the contract is $272.88 million, totally guaranteed. The average annual value is $68.22 million. The extension replaces Mitchell's player option for 2027-28. If the 6-foot-3, 215-pounder had waited until next summer, he could have signed for five years, $353 million — about $80 million in additional funds. Mitchell, who turns 30 on Sept. 7, had one guaranteed season remaining on his original contract worth $46.4 million. The heavy lifting isn't over for Cleveland's front office. Mitchell reportedly told the Cavs he would support the team signing LeBron James in free agency. James, 41, is contemplating where he wants to play next season, and many around the league think a return to the Cavs is a strong possibility. There are several other suitors for the 6-9, 250-pounder, including Golden State, Miami, Philadelphia and Minnesota. James has played with Cleveland twice before, in 2003-10 and 2014-18. By signing a new contract, Mitchell probably hopes talk of him leaving or being traded will cease. He has signed two extensions with the Cavs and has repeatedly expressed his desire to remain in Cleveland. Cleveland advanced to the Eastern Conference finals last season, a first for Mitchell in his career. The seven-time All-Star averaged 27.9 points, 4.5 rebounds and 5.7 assists last season, his fourth with the team. He shot .483 from the field, .364 from the 3-point line and .865 from the foul line. The Cavs have held off signing veteran point guard James Harden in free agency. He opted out of the last year of his contract and wants to sign a two-year deal worth about $30 million a season. Harden has delayed a new deal with Cleveland as it tries to fit James under its salary cap. Contact Bob Finnan at rfinnan30@gmail.com. Follow him @BobCavsinsider on X.