Report: Donovan Mitchell, Cavaliers Agree to Four-Year Max Extension

The former Louisville standout and current NBA superstar is staying in Cleveland.

May 25, 2026; Cleveland, Ohio, USA; Cleveland Cavaliers guard Donovan Mitchell (45) warms up before game four of the eastern conference finals for the 2026 NBA playoffs against the New York Knicks at Rocket Arena. Mandatory Credit: Ken Blaze-Imagn Images | IMAGN IMAGES via Reuters Connect

LOUISVILLE, Ky. - Once again, Donovan Mitchell is getting paid.

The former Louisville men's basketball standout and current NBA superstar has agreed with the Cleveland Cavaliers on a four-year, $273 million maximum contract extension, according to ESPN's Shams Charania. The deal includes a player option for the 2030-31 season, per Charania.

This is the third major contract extension that Mitchell has signed since entering the NBA in 2017. He inked a five-year, $195 million designated rookie max extension back in 2021 while still a member of the Utah Jazz, then a three-year, $150.3 million maximum contract extension in 2024 following his second season in Cleveland.

Mitchell was entering the second season of the latter deal, and could have waited until next summer to sign a Designated Veteran Player Extension (also known as the "supermax" extension) with the Cavaliers. Per Charania, signing an extension now both shows Mitchell's long-term commitment to Cleveland, and gives the Cavs the financial flexibility to potentially signing LeBron James as a free agent.

Coming off of his ninth year in the NBA and fourth with Cleveland, Mitchell put together his seventh-straight NBA All-Star season. Playing and starting in 70 games during the regular season, he averaged 27.9 points, 5.7 assists and 4.5 rebounds per game, while putting up a 48.3/36.4/86.5 shooting split.

He helped guide the Cavaliers to a 52-30 overall record, clinching the No. 4 seed in the Eastern Conference and reaching the Eastern Conference Finals - before being swept by the eventual NBA champion New York Knicks. Not only was this Mitchell's first time reaching the conference finals, it was Cleveland's first since 2018, and their first that didn't involve LeBron James since 1992.

The Greenwich, Conn. native has experienced nothing but personal success from day one in the NBA. In 609 career games, Mitchell is averaging 25.1 points, 4.3 rebounds and 4.8 assists per game. With 272 career points scored, he is the all-time leading scorer among former Louisville players in the NBA.

Mitchell was drafted with the No. 13 overall pick in the 2017 NBA Draft by the Nuggets, only to be traded to the Jazz on draft night. As a sophomore at Louisville, Mitchell averaged 15.6 points, 4.9 rebounds and 2.7 assists en route to being named a 2016-17 First Team All-ACC selection.

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(Photo of Donovan Mitchell: IMAGN IMAGES via Reuters Connect)