Cleveland Cavaliers president of basketball operations Koby Altman told reporters Monday that the team felt good about signing Donovan Mitchell to an extension.

A day later, the deal was done.

Mitchell agreed to a three-year, $150.3million contract extension with the Cavaliers on Tuesday, according to multiple reports.

The 27-year-old had said previously that he is happy with the Cavaliers, and Altman said on Monday, he is "very, very much pro-Cleveland."

Mitchell's deal includes a player option, and was structured in a way to be favourable to both him and the Cavs.

It was reported that the extension is for three years instead of four years because in the 2027-28 season, Mitchell will have 10 years of service, and then is able to sign or be extended for 35 per cent of the salary cap. So, in July of 2026, he will be eligible to sign a four-year extension, with a projected max in 2027-28 at $65.5million.

The 13th overall pick of the 2017 NBA draft, Mitchell was acquired by Cleveland from the Utah Jazz shortly before the 2022-23 season.

A five-time All-Star, Mitchell averaged a team-high 26.6 points in 2023-24, as well as career highs of 6.1 assists, 5.1 rebounds and 1.84 steals.

A left knee injury, however, limited him to 55 games, and a left calf strain forced him to sit out Cleveland's final two play-off games, as the Cavs were eliminated by the eventual champion Boston Celtics in the Eastern Conference semi-finals. He had averaged 36.8 points on 51.9 per cent shooting, 6.4 rebounds and 5 assists in his previous five play-off games.

In seven pro seasons, he has career averages of 24.8 points, 4.3 boards and 4.6 assists.

A week after Cleveland was ousted, J.B. Bickerstaff was fired as coach, and the Cavs hired his replacement, Kenny Atkinson, on June 24.