Cavs Disrespected in NBA Championship Odds Following Donovan Mitchell Extension

The Cleveland Cavaliers remain in the middle of the pack in the odds to win the NBA Finals despite retaining Donovan Mitchell.

Cleveland Cavaliers guard Donovan Mitchell. / David Richard-USA TODAY Sports

Donovan Mitchell isn't going anywhere this offseason, as the All-Star guard reportedly agreed to a three-year, $150.3 million extension with the Cleveland Cavaliers, tying him to the franchise until the 2027-28 season when he has a player option.

BREAKING: Cleveland Cavaliers All-Star guard Donovan Mitchell has agreed on a three-year, $150.3 million maximum contract extension that includes a player option for the 2027-2028 season, sources tell ESPN. pic.twitter.com/Vu6QXGyK57

— Adrian Wojnarowski (@wojespn) July 2, 2024

It's a massive move for the Cavs, who weren't expected to retain Mitchell at points during his two-year tenure with the team, but now Cleveland has a cornerstone for years to come. This not only makes the Cavs' decision to trade for Mitchell ahead of the 2022-23 season look like a terrific move, but it should improve their chances of winning in the next few seasons.

Well, it should.

Oddsmakers aren't really moved by the Mitchell extension -- a sign that it was expected this offseason -- as Cleveland has not moved in the odds to win the NBA Finals in the 2024-25 season. The Cavs are sitting at +4000, tied with the Golden State Warriors, Miami Heat and Memphis Grizzlies.

NBA Finals Odds for 2024-25 Season

Odds via DraftKings Sportsbook.

• Boston Celtics: +295
• Philadelphia 76ers: +800
• Oklahoma City Thunder: +850
• Denver Nuggets: +850
• New York Knicks: +950
• Minnesota Timberwolves: +1000
• Dallas Mavericks: +1000
• Milwaukee Bucks: +1100
• Los Angeles Lakers: +3000
• Phoenix Suns: +3500
• Miami Heat: +4000
• Memphis Grizzlies: +4000
• Golden State Warriors: +4000
• Cleveland Cavaliers: +4000
• Los Angeles Clippers: +4500
• New Orleans Pelicans: +5000
• Indiana Pacers: +6000
• Sacramento Kings: +7500
• Orlando Magic: +7500

Are Cavs Disrespected in NBA Finals Odds?

While Mitchell extending his deal looked more likely than before the 2023-24 season this offseason, it is still shocking to see the Cavs odds where they are.

Cleveland has yet to break up the core of Evan Mobley, Jarrett Allen, Darius Garland and Mitchell -- although it could to re-tool the roster -- yet it is tied with some teams that aren't in the greatest spot entering the 2024-25 campaign.

Golden State is the key one, as the Warriors lost Klay Thompson and did not win the Paul George sweepstakes after the Los Angeles Clippers decided not to sign-and-trade him to Golden State. Yet, the Warriors, who missed the playoffs last season, have the same chance to win the title as the Cavs in the eyes of Vegas.

That's a little shocking since Cleveland made the second round of the playoffs last season and stole a game against the eventual champion Boston Celtics before Mitchell went down with a calf injury.

Cleveland has earned the No. 4 seed in the East in back-to-back seasons, and it still has a solid core of three players that have made an All-Star team in their careers (Mitchell, Allen and Garland).

With Mitchell coming back, it's surprising that the Cavs didn't at least get a small bump up, especially since the Los Angeles Lakers (+3000) and Phoenix Suns (+3500) are ahead of them despite not making any major moves after a season where they combined won one playoff game.

The Cavs wouldn't be my first choice to win the title, but this price feels a little off given the core Cleveland has in place.

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Odds refresh periodically and are subject to change.

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