Donovan Mitchell Shares Hilarious Reaction To Signing Extension With Cavs

The Cavs star guard agreed to a three-year, $150.3 million deal to remain in Cleveland

May 5, 2024; Cleveland, Ohio, USA; Cleveland Cavaliers guard Donovan Mitchell (45) reacts after a basket during the second half against the Orlando Magic in game seven of the first round for the 2024 NBA playoffs at Rocket Mortgage FieldHouse. Mandatory Credit: Ken Blaze-USA TODAY Sports / Ken Blaze-USA TODAY Sports

The Cavaliers got the commitment they were waiting for.

On Tuesday morning, star guard Donovan Mtichell officially agreed to a three-year, $150.3 million extension to remain with Cleveland through at least the end of the 2026-27 season. The deal includes a player option for 2027-28 as well as Mitchell could potentially remain with the organization into his early 30s.

Upon the announcement of the deal, Mitchell took to social media to express his excitement over agreeing to terms on the extension, using a popular video clip from "The Wolf of Wall Street" to let fans know he's all in.

#LetEmKnow @cavs pic.twitter.com/QU1re4zn0G

— Donovan Mitchell (@spidadmitchell) July 2, 2024

Mitchell's decision to stick around represents a key inflection point in the history of the franchise as a top 15 player in the league that wasn't born in Northeast Ohio made a commitment to a Cleveland.

The terms of the deal are notable for a number of reasons. In actuality Mitchell was eligible for a four-year, $209 million max extension if he desired. However, the three year structure with a player option in 2027-28 is more advantageous to the 27-year-old who can enter free agency again going into his 10th year in the league, which comes with an escalation of the percentage of the cap he can receive in his next contract.

Currently, Mitchell can receive Cleveland's salary cap. By the end of this next deal that percentage jumps to 35%. With the estimated increase in the NBA salary cap in the coming years that would mean Mitchell can earn upwards of $70 million per year by then.

In the meantime, the deal represents a sigh of relief for the Cavaliers who now have a clear sense of direction for the foreseeable future, centered around Mitchell. What that means for the status of other players on the team this summer remains to be seen.