Title: Donovan Mitchell Agrees to $150.3 Million Extension with Cleveland Cavaliers

In a significant move for the Cleveland Cavaliers, star guard Donovan Mitchell has reportedly agreed to a three-year contract extension worth $150.3 million. The deal ensures his presence with the Cavs through the 2028-29 season and keeps him away from free agency.

Mitchell, a five-time All-Star, has been a key contributor to the Cavaliers' success since joining the team two seasons ago. Acquired from the Utah Jazz in a blockbuster trade in 2022, Mitchell has had a transformative effect, leading Cleveland to the playoffs in both of his seasons with the team.

Last season, Mitchell showcased his scoring prowess by averaging 26.6 points per game along with 5.1 rebounds, 6.1 assists, and 1.8 steals. His shooting percentages of 46.2% overall and 36.8% from beyond the arc were impressive. He even etched his name in Cavaliers history by setting a franchise-record of 71 points in a game against the Chicago Bulls during the 2022-23 season.

The extension also includes a player option of $54 million for the 2027-28 season, providing Mitchell with the flexibility to potentially become a free agent in three years. This factor adds urgency for the Cavaliers to compete for a championship during his tenure.

This contract extension is not only a significant financial commitment from the Cavaliers but also brings Mitchell closer to meeting the 10-year criteria, making him eligible for a subsequent extension worth a staggering $380 million.

The impact of Mitchell's presence on the Cavaliers has been evident, as the team recorded a 48-34 record last season despite dealing with several injuries to key players like Jarrett Allen and Darius Garland. In the previous season, the Cavaliers achieved a 51-31 record, marking their first 50-win season since the departure of LeBron James in 2018.

However, the success on the court has not translated into a deep playoff run for Cleveland, as they haven't reached the Eastern Conference Finals since James' departure. The team underwent coaching changes, parting ways with J.B. Bickerstaff and hiring former Golden State Warriors assistant Kenny Atkinson.

In his introductory news conference, Atkinson expressed his enthusiasm for the vision of the team and further mentioned that he, along with other Cavaliers representatives, had visited Mitchell's "Spida Elite Camp" to build a stronger relationship and sell their future plans to the star guard.

Cavaliers' president of basketball operations Koby Altman spoke highly of Mitchell, emphasizing his commitment, collaboration, and investment in Cleveland's objectives. Altman expressed optimism about a decisive answer regarding the contract extension in the near future.

With Mitchell's extended stay in Cleveland, the Cavaliers aim to build on their recent success and compete at the highest level. The team's loyal fan base eagerly awaits the upcoming season, hoping that Mitchell's presence will help propel the Cavaliers to new heights in pursuit of an elusive championship.