Mitchell Signs $273 Million Extension With Cavaliers

Donovan Mitchell agreed to a four-year, $273 million maximum contract extension with the Cleveland Cavaliers, his agent said Tuesday. The deal includes a player option for the 2030-31 season. Mitchell could have waited until next year to add another year and $80 million to the deal but chose to commit earlier.

The extension keeps Mitchell under contract through the 2029-30 season with the option year following. The structure prevents the team from adding a fifth guaranteed year at this time.

Mitchell averaged 27.9 points, 5.7 assists, 4.5 rebounds and 1.5 steals per game last season. The team reached the Eastern Conference finals before being swept by the New York Knicks. Mitchell said after the playoff loss that he had "unfinished business" trying to bring another NBA title to Cleveland.

The Cavaliers have reached the playoffs in each of the past four seasons with Mitchell. The team acquired him in a 2022 trade.

James is a free agent and has said he will not return to the Lakers. Cleveland is listed among possible landing spots for the 41-year-old forward.

Lowry signed a one-day contract with the Toronto Raptors and announced his retirement as a member of the team. The 40-year-old point guard played 20 NBA seasons and helped Toronto win the 2019 title. Lowry said farewell on July 7, a nod to his jersey number 7. He averaged 13.8 points, 6.0 assists, 4.2 rebounds and 1.3 steals over 1,187 career games.