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Cleveland Cavs 2024 NBA free agency live updates. Jarrett Allen signs contract extension

The Cavaliers made a coaching change this offseason in an attempt to better position themselves for a championship.

It's the explanation Cavs president of basketball operations Koby Altman publicly provided May 24 while discussing the firing of coach J.B. Bickerstaff, whom the Detroit Pistons hired June 30.

Now Altman must bolster the roster new Cavs coach Kenny Atkinson will guide as the franchise tries to transform into a legitimate title contender coming off back-to-back playoff appearances, the most recent one ending with a 4-1 series loss to the eventual NBA champion Boston Celtics in the Eastern Conference semifinals.

Cavaliers general manager Koby Altman talks during media day, Oct. 2, 2023, in Cleveland.
Cavaliers general manager Koby Altman talks during media day, Oct. 2, 2023, in Cleveland.

NBA free agency began at 6 p.m. Sunday, June 30. Check back here for Cavs moves.

Isaac Okoro, Cavs agree to contract extension

The Cavs secured a key piece to their bench by agreeing to a three-year extension with Isaac Okoro a few weeks before training camp is set to begin. On Sept. 17, the team announced Okoro signed the deal.

Cavs announce two-way contracts of JT Thor and Emoni Bates

The Cavs announced Sept. 9 they signed forward JT Thor to a two-way contract, a previously reported move (see blow).

The Cavs also announced 2023 second-round draft pick Emoni Bates will be back with the franchise on a two-way contract.

Cavs re-sign Tristan Thompson

Tristan Thompson will be returning for the 2024-25 season.

The Cavaliers announced Sept. 9 Thompson has been re-signed after appearing in 49 games last season, averaging 3.3 points and 3.6 rebounds per game. Thompson also provided a veteran presence and some needed depth in the paint behind Jarrett Allen, Evan Mobley and others.

The upcoming season will be Thompson's 14th in the NBA. He also has a wealth of playoff experience, having appeared in 104 playoff games, including all 21 during the Cavs' 2016 run to the NBA Finals.

Cavs announce they signed Luke Travers to a two-way contact

The Cavs announced Aug. 28 they signed forward Luke Travers to a two-way contract.

Selected 56th overall in the 2022 NBA draft by the Cavs, Travers appeared in 36 games for Melbourne United during the 2023-24 season in the NBL (Australian Basketball League) and averaged 12.4 points on 51.7% shooting from the field, 7.6 rebounds, 2.1 assists, 1.3 blocks and 1.2 steals in 27 minutes.

Travers was a member of the Cavs Summer League team for the past three years.

Cavs agree to two-way contract with JT Thor

The Cavaliers and forward JT Thor struck an agreement on a two-way contract, a league source told the Beacon Journal on Aug. 17, confirming a report by The Athletic.

A 2021 second-round draft pick of the Pistons, Thor has appeared in 165 regular-season NBA games, all with the Charlotte Hornets the past three seasons. The 6-foot-9 Thor's career averages are 3.2 points, 2.1 rebounds and 0.5 assists per game.

Thor must have made an impression on the Cavs in the 2023-24 regular-season finale on April 14. He scored a career-high 20 points, grabbed nine rebounds, dished out four assists, compiled three blocked shots and tallied two steals in 41 minutes. The Hornets prevailed 120-110 in Cleveland.

Thor, 21, recently compete for the South Sudan men's basketball team in the 2024 Paris Olympics. In three games, he averaged 6.7 points and 4.7 rebounds.

Cavs and Jarrett Allen strike deal on contract extension

On July 31, the Cavs and center Jarrett Allen agreed to a three-year, $91 million contract extension. The team announced Aug. 2 Allen signed the extension.

“We couldn’t be more excited that Jarrett Allen chose to extend in Cleveland for the prime of his career," Altman said in a news release. “Jarrett’s growth as a player, at just 26 years old, was accelerated when he earned his first All-Star selection in 2022. He is the anchor of our core group of players and his presence fits our vision for sustainable success. Jarrett also embodies the culture and values of our organization, and we look forward to achieving even greater things together.”

Cleveland Cavaliers announce Evan Mobley has signed his massive contract extension

On July 22, the Cavs announced forward Evan Mobley signed his maximum rookie contract extension. See more about the deal below.

“We are thrilled to sign Evan to a long-term extension, solidifying his place as a cornerstone of our franchise,” Altman said in a news release. “Evan has quickly established himself as one of the premier defensive players in the league, and we’ve only scratched the surface of his overall potential.

“Since drafting him, he only knows winning basketball and has proven to be pivotal to our team’s success. His exceptional work ethic, versatility, and commitment to excellence both on and off the court truly embody what it means to be a Cleveland Cavalier. We believe Evan’s best basketball is still ahead of him, and we couldn’t be more excited to continue building something special together for many years to come.”

Cavs reach agreement with Evan Mobley on max rookie contract extension

On July 20, forward Evan Mobley and the Cavs reached an agreement on a five-year, $224 million maximum rookie contract extension, which could become worth as much as $269 million, a league source told the Beacon Journal, confirming an ESPN report. Before striking the deal, Mobley had been under contract through the 2024-25 season.

For more about the extension and how the Cavs view their investment in Mobley, read this story.

Cleveland Cavs announce they have signed Donovan Mitchell to contract extension

The Cavs announced on July 7 they signed Donovan Mitchell to the five-time All-Star guard's previously reported contract extension. See more on the Mitchell deal below.

“Signing Donovan Mitchell to an extension serves as a pivotal moment for our franchise and reinforces our vision and goals for sustainable success,” Altman said in a news release. “Donovan is one of the most dynamic All-NBA players in the league and we couldn’t be more excited that he chose Cleveland and this community to continue his basketball journey. We want to align ourselves with the best teams in the NBA and ultimately compete for Championships, and we feel securing Donovan long-term provides us that opportunity.”

Cavs All-Star guard Donovan Mitchell agrees to sign contract extension

Mitchell has agreed to a three-year, $150.3 million contract extension with the Cavaliers, an NBA source told the Beacon Journal on July 2, confirming an ESPN report. Mitchell is a five-time All-Star, including the last two seasons with Cleveland. Read more about the deal here, including when Mitchell can officially sign the extension.

Cleveland Cavs sign first-round draft pick Jaylon Tyson

The Cavs signed first-round draft pick Jaylon Tyson to his rookie contract, the team announced July 3. The Cavs used their lone 2024 selection to take Tyson 20th overall.

Akron native and Cavs legend LeBron James strikes a deal to re-sign with the Los Angeles Lakers

LeBron James agreed to a two-year, $104 million contract with the Los Angeles Lakers, The Athletic reported July 3. James will have a no-trade clause and a player option for next summer, meaning the Akron native who won a championship with the Cavaliers in 2016 could become a free agent then, according to the report.

James returning to the Lakers had been expected. They drafted his oldest son, Bronny, in the second round (No. 55 overall) on June 27 and hired his former podcast partner JJ Redick as head coach on June 20.

Former Cavaliers forward Kevin Love signing two-year deal with Miami Heat

Former Cavs forward Kevin Love reached an agreement June 30 with the Miami Heat on a two-year deal worth more than $8 million, according to a report by The Athletic.

Love, 35, last season saw his minutes per game (16.8) drop below 20 for the first time in his career. With the Heat, he averaged 8.8 points and 6.1 rebounds.

Here is a Cavaliers 2024 free agency primer:

When does NBA free agency start?

There are a few key dates to know.

  1. The 2023-24 season ended on June 17 with the Celtics defeating the Dallas Mavericks in Game 5 of the NBA Finals. On June 18, each NBA team could begin negotiating with soon-to-be free agents who finished last season on its roster.

  2. Beginning at 6 p.m. Sunday, June 30, each NBA team may begin negotiating with all other impending free agents.

  3. Each NBA team may begin signing free agents to contracts at 12:01 p.m. Saturday, July 6.

Cavs guard Donovan Mitchell reacts during the first half of Game 7 against the Orlando Magic in their first-round playoff series, May 5, 2024, in Cleveland.
Cavs guard Donovan Mitchell reacts during the first half of Game 7 against the Orlando Magic in their first-round playoff series, May 5, 2024, in Cleveland.

Will the Cavs re-sign Donovan Mitchell?

Altman has expressed optimism the Cavs will be able to sign five-time All-Star guard Donovan Mitchell to a contract extension this offseason. The deal could be up to four years and worth $209 million.

"My exit interview with [Mitchell] was really good in that he was talking about the future and how excited he was about the team, the organization," Altman said on May 24. "This is a player that has had two of the best years of his career here, has had a lot of success here, understands the infrastructure. I think has a lot of trust in what we're doing and understands that our goal is to win a championship."

As this offseason has progressed, Mitchell has sent signals via social media suggesting he still feels good about the Cavs. For example, Mitchell showed support for Cavs center Jarrett Allen with an Instagram post amid perceived criticism from Bickerstaff about Allen missing Cleveland's final eight playoff games with a fractured rib. Mitchell also posted a photograph of himself wearing a Cavs T-shirt while working out overseas.

Mitchell is under contract next season and has a $37 million player option for 2025-26. However, in the event Mitchell surprises the Cavs by declining to sign an extension this offseason, they would likely be compelled to trade Mitchell to avoid losing him after the upcoming season without compensation.

Cavaliers center Jarrett Allen dunks on Magic forward Jonathan Isaac in the second quarter of Game 1 of the first-round playoff series, April 20, 2024, in Cleveland.
Cavaliers center Jarrett Allen dunks on Magic forward Jonathan Isaac in the second quarter of Game 1 of the first-round playoff series, April 20, 2024, in Cleveland.

Will Cavs keep their 'core four' of Donovan Mitchell, Darius Garland, Evan Mobley and Jarrett Allen intact?

As long as Mitchell re-signs, he and forward Evan Mobley would form the Cavs' foundation. But would Altman break up Mitchell and point guard Darius Garland or split up Mobley and Allen? Or is Altman determined to see the group with an offensive-minded coach (Atkinson) at the helm.

In Altman's May 24 news conference, he expressed a desire to keep the "core four" intact.

"Way more data speaks to how much more success we've had with this group than it does, I think, the outside perception of fit," Altman said. "We've won too many games [to want to break it up]. We've had playoff success, and we're still young."

Cavaliers guard Darius Garland dribbles against Nets guard Dennis Smith Jr. in the third quarter, March 10, 2024, in Cleveland.
Cavaliers guard Darius Garland dribbles against Nets guard Dennis Smith Jr. in the third quarter, March 10, 2024, in Cleveland.

There's no telling whether a trade proposal will materialize to change Altman's stance about this. Yet, the way Altman talks, it would probably need to be a "Godfather offer" — one he simply couldn't refuse.

By the way, Allen and Cavs sixth man Caris LeVert played for Atkinson during his head coaching tenure with the Brooklyn Nets (2016-20).

Cleveland Cavaliers fans react: Cavs hiring Kenny Atkinson gets positive reviews. Dan Gilbert gets scrutiny

Cavs needs in NBA free agency

The skill set the Cavs need the most is shooting. A legitimate two-way wing is the roster upgrade capable of elevating them to another level. And depth at small forward and center is on the wish list.

Cavaliers first-round draft pick Jaylon Tyson and president of basketball operations Koby Altman hold a jersey during Tyson's introductory news conference Thursday, June 27, in Independence.
Cavaliers first-round draft pick Jaylon Tyson and president of basketball operations Koby Altman hold a jersey during Tyson's introductory news conference Thursday, June 27, in Independence.

Cavs pick Jaylon Tyson in 2024 NBA draft Round 1

The Cavs had one pick in the 2024 NBA draft, and they used it to select Cal wing Jaylon Tyson in the first round (No. 20 overall) on June 27.

Jaylon Tyson to Cavaliers in NBA draft: Instant grade, analysis, stats for 20th pick

Cavs 2024 free agents

Magic forward Paolo Banchero drives against Cavaliers forward Isaac Okoro during the first half in Game 7 of a first-round playoff series, May 5, 2024, in Cleveland.
Magic forward Paolo Banchero drives against Cavaliers forward Isaac Okoro during the first half in Game 7 of a first-round playoff series, May 5, 2024, in Cleveland.

For the Cavs, Okoro is the top priority to retain among their own free agents. Because he's a restricted free agent, the Cavs would have the right to match the terms of an offer sheet should he sign one from another team.

The fifth overall pick in the 2020 NBA draft, Okoro is eligible for an $11.8 million qualifying offer. He is Cleveland's best perimeter defender.

Nate Ulrich can be reached at nulrich@thebeaconjournal.com. On Twitter: @ByNateUlrich.

This article originally appeared on Akron Beacon Journal: Cavs 2024 free agency live updates: Tracking latest rumors, reports