CLEVELAND — 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 developed into one of the NBA’s brightest young stars since being selected third overall in the 2021 draft.
The 23-year-old’s new contract could be worth as much as $269 million if he earns incentives, said the person, who asked not to be identified because terms of the deal have not been finalized.
Mobley’s agents, Joe Smith and Thad Foucher, first spoke to ESPN about the contract extension.
The two sides have been discussing the agreement for several weeks.
Mobley’s signing is the latest positive development this summer for the Cavs, who hired coach Kenny Atkinson and then signed All-Star guard Donovan Mitchell to a three-year, $150.3 million contract extension.
Mitchell and Mobley were key players in Cleveland’s 99 wins over the past two seasons.
They reached the second round of the playoffs this season but were eliminated in five games by the eventual champion Boston Celtics.
Mobley averaged 15.6 points, 8.8 rebounds and 2.8 assists over his first three professional seasons.
The former Southern California star is already one of the league’s best defenders, and the Cavs are hoping he can continue to develop offensively.
Atkinson said in his introductory news conference that one of his priorities is to develop Mobley into a more complete offensive threat.
“We can strategically get the ball in his hands more,” Atkinson said.
Mobley underwent arthroscopic knee surgery in December and was limited to just 50 regular season games.
With Mitchell and center Jarrett Allen struggling with injuries, Mobley flourished in the postseason, averaging 21.4 points against the Celtics.
Mobley scored a playoff-high 33 points in Cleveland’s last game.
