However, if Mitchell decides not to sign an extension, it is possible that the Cavs could look to trade him rather than risk losing him in free agency for nothing down the line. It was recently reported that Cleveland is more likely to retain Mitchell than not, and one NBA executive believes that they are “weirdly optimistic” about keeping the five-time All-Star.

If Mitchell does become available, The Athletic’s Jovan Buha reported that Mitchell would be the Lakers’ No. 1 target should they look to add a third star alongside James and Anthony Davis.

“I’ve heard in recent weeks that Donovan has become, if the Lakers go down the three-star path, and it’s still unclear — I think they’re gonna kick the can down the road and see the possibility and see what the asking price is,” Buha said. “And there are teams that can outbid them if they get into a bidding war. But if they do go down that road and at least explore it, that Donovan Mitchell would be the preferred guy, whereas several months ago, Trae Young was a name you were hearing a lot. Dejounte Murray was a name they looked at leading into the deadline.”

The Lakers have some things to figure out themselves this offseason, as James could opt out of his player option and become an unrestricted free agent this summer. However, the Lakers reportedly are operating as if he’ll stay with the franchise.

Mitchell has led the Cavs to the playoffs in back-to-back seasons, but Cleveland has failed to make it out of the second round. The former first-round pick was injured in the second round of the playoffs this season against the Boston Celtics, missing the final two games of the series.

For Mitchell, he could make more money if he signs with a team that has his Bird rights, which would mean either remaining in Cleveland or signing an extension with a team that potentially trades for him.

“If Mitchell becomes a free agent in 2025, he is eligible to sign for a max of five years and $269.9 million with the team that holds his Bird rights (the Cavaliers now) or four years, $200.1 million with a new team,” Mathur wrote.

During the 2023-24 regular season, Mitchell appeared in 55 games for the Cavs and averaged 26.6 points, 5.1 rebounds and 6.1 assists per game while shooting 46.2 percent from the field and 36.8 percent from beyond the arc.

He’s one of the best guards in the NBA, and it’s likely that he would have a robust trade market if the Cavs do decide to move him.

It will be interesting to see how Gilbert and the Cavs handle this offseason and Mitchell’s future with the franchise.