Evan Mobley, Cavaliers agree on 5-year, $224 million rookie contract extension, AP source says

CLEVELAND (AP) — Cavaliers forward Evan Mobley has agreed to a five-year, $224 million contract extension with Cleveland, a person familiar with the negotiations told The Associated Press on Saturday night.

Mobley has blossomed into one of the NBA’s brightest young stars since being drafted with the No. 3 overall pick in 2021.

The 23-year-old’s new deal could be worth up to $269 million if he reaches incentives, said the person who spoke on condition of anonymity because terms have not been finalized.

Mobley’s agents, Joe Smith and Thad Foucher, first told ESPN about the extension. The sides have been talking about a deal for weeks.

Mobley’s agreement is the latest positive development this summer for the Cavs, who after hiring Kenny Atkinson as coach signed All-Star guard Donovan Mitchell to a three-year, $150.3 million extension.

Mitchell and Mobley are the main pieces in a Cleveland core that helped the Cavs win 99 games the past two seasons. They made it to the second round of the playoffs this season before being eliminated by the eventual champion Boston Celtics in five games.

Mobley has averaged 15.6 points, 8.8 rebounds and 2.8 assists in his first three seasons as a pro. The former Southern California standout is already one of the league’s premiere defensive players, and the Cavs are hoping he’ll further develop his offensive game.

At his introductory news conference, Atkinson said one of his priorities is making Mobley a more complete threat on offense.

“We can schematically get the ball in his hands more,” Atkinson said.

Mobley was limited to just 50 regular-season game last season after undergoing arthroscopic knee surgery in December. With Mitchell and center Jarrett Allen dealing with injuries, Mobley stepped it up in the postseason, averaging 21.4 points against the Celtics.

Mobley scored a playoff-best 33 points in Cleveland’s last game.