Cavaliers announce contract extension with Kyrie Irving

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The Cleveland Cavaliers announced Thursday that the team and Kyrie Irving agreed to and signed a contract extension.

Though the team release doesn't disclose terms, the reported figures are for five years and $90 million.

“We couldn’t be happier to have Kyrie firmly at the core of our Cavaliers team and family for years to come,” said Cavaliers General Manager David Griffin.

“He’s already proven he’s among the best in the NBA and we’re excited to watch his continued growth and success. To know that he is all in and shares our high expectations and championship goals is something we’re extremely proud of. It is a clear reflection of how we all view our future together, with Kyrie fully vested in this franchise and the city of Cleveland.”

Majority owner Dan Gilbert expressed his excitement for Irving's long-term commitment to Cleveland.

"The future has never been brighter as we are building the team and franchise for sustainable success," Gilbert said. "Kyrie is obviously a very big piece of our plan.”