With Donovan Mitchell Deal Done, Cavaliers Now Focused On Another Key Extension

The Cavs may not be done handing out extension this offseason

May 9, 2024; Boston, Massachusetts, USA; Cleveland Cavaliers guard Donovan Mitchell (45) reacts after a basket buy forward Evan Mobley (4) against the Boston Celtics in the first quarter during game two of the second round for the 2024 NBA playoffs at TD Garden. Mandatory Credit: David Butler II-USA TODAY Sports / David Butler II-USA TODAY Sports

Up until Tuesday it had been a quiet start to NBA free agency for the Cleveland Cavaliers. Then came the massive news of Donovan Mitchell's three-year, $150.3 million extension with the team. It appears that move may be just the beginning of the Wine and Gold dolling out extensions this offseason.

As our Spencer Davies reported shortly after the announcement of Mitchell's extension, Koby Altman and the Cavaliers brass have now turned their attention toward getting a deal done for young forward Evan Mobley.

League source confirms #Cavs have agreed with Donovan Mitchell on a three-year maximum contract extension with a player option in 2027-28.@CavsInsider_FN has also learned they are now negotiating with Evan Mobley in extension talks.

— Spencer Davies (@SpinDavies) July 2, 2024

The 23-year-old is currently entering the final year of his rookie contract after being drafted No. 3 overall in by the franchise in 2021. Entering year four of his career, Mobley is eligible for a contract extension in the realm of four years, $200 million. It's an important move for Cleveland's financial future because with the max contracts of Mitchell, Darius Garland and Mobley on the books it's likely to push the franchise beyond the luxury tax, restricting even further the levers they have to improve the roster.

Internally, Mobley is viewed as a key piece of the Cavs future plans, so much so that his development going into year four was an important factor in the hiring of new head coach Kenny Atkinson. On Monday, Atkinson talked about the different ways he hopes to utilize Mobley to better utilize his skillset, particularly on the offensive end of the floor.

Somewhat restricted by being an over the cap team at the moment, Cleveland has yet to make any notable free agent moves nearly two days into the start of NBA free agency. That said, taking care of extensions for both Mitchell and Mobley would go a long way in establishing a clear path forward for the franchise in the coming years.