Report: Cavs extend president Altman through 2029-30

The Cleveland Cavaliers are signing team president Koby Altman to a contract extension that will keep him with the franchise through the 2029-30 season, sources told ESPN's Shams Charania.

Altman joined the organization in 2012 and took over as general manager in July 2017. His last extension, which produced his promotion to president of basketball operations, was reportedly set to expire after the 2027-28 campaign.

Mike Gansey, who succeeded Altman as GM in 2022, and assistant GM Brandon Weems also received multi-year extensions, sources told Charania.

Altman oversaw the Cavaliers' rebuild after LeBron James left to join the Los Angeles Lakers in 2018 and has transformed them into an Eastern Conference contender again. He drafted Collin Sexton, Darius Garland, and Evan Mobley with consecutive top-five picks between 2019 and 2021, subsequently sending Sexton to the Utah Jazz in 2022 as part of a package to acquire All-Star Donovan Mitchell.

Since adding Mitchell, Cleveland has won at least 48 games in three regular seasons, culminating with this year's 64-victory campaign - the franchise's second-best record ever. Altman was also responsible for hiring Kenny Atkinson in June 2024, who went on to win Coach of the Year in his debut campaign with the team.

Altman's other significant moves include acquiring All-Star center Jarrett Allen in a four-team trade in January 2021 and a three-team deal later that summer to acquire Lauri Markkanen for Larry Nance Jr. Markkanen was then involved in the Mitchell trade, while Nance returned to the Cavs as a free agent earlier this month on a one-year contract.