Though terms were not disclosed, sources site that the four year extension makes his overall contract to be five years, $145 million.
Kevin Love opted out of his current five-year contract, with his current extension kicking in after he earns $24.1 million next season. The five-time all-star was humbled to say the least and is looking forward to the next five years in Cleveland.
Secure the 💼!!! Congrats brother @kevinlove. Nobu Malibu or Wally’s on you!!! 🤷🏾♂️ 💰 💰 💰 💰 💰
— LeBron James (@KingJames) July 24, 2018
Love shad the following to say during a signing ceremony at Quicken Loans Arena in Cleveland.
“I’d like to thank the Cleveland Cavaliers organization, [owner] Dan Gilbert and Koby Altman for having their trust in me and believing in our future,” Love said. “When I got traded here a few years back, I was committed to being here long term and I was committed to our culture, excellence in playing the game of basketball. And I think who we have on our team and who we have moving forward really reflects that.”
With LeBron James signing to play for Los Angeles Lakers in free agency, the Cavaliers aggressively pursued Love to sign an extension for the foreseeable future. Gilbert and Altman are determined to keep the Cavaliers in playoff discussions, and that began with making sure Love never saw a day in free agency.
“We are very excited to announce Kevin’s long-term commitment to the Cavaliers and Cleveland,” Altman said in a statement. “This quickly became a partnership the second we began these discussions. Collaboration and winning matter greatly to Kevin and that was reflected in this extension.
“Kevin’s talent and character are both at a very high level and he has earned his role at the center of what we want to do moving forward.”
The Cleveland Cavaliers acquired Love in a three-team trade prior to the 2014 season. He’s made the Eastern Conference All-Star team in each of the past two seasons, and averaged 18 points and 11 rebounds in his 10-year career, including 15 points and 9.7 rebounds in four trips to the postseason with the Cavaliers.