Isaac Okoro, Cavs Agree to $38M Contract; Updated Salary Cap for 2024-25 NBA Season

Zach BacharContributor ISeptember 14, 2024

BOSTON, MA - MAY 9: Isaac Okoro #35 of the Cleveland Cavaliers shoots a free throw during the game against the Boston Celtics during Round 2 Game 2 of the 2024 NBA Playoffs on May 9, 2024 at the TD Garden in Boston, Massachusetts. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2024 NBAE (Photo by Jesse D. Garrabrant/NBAE via Getty Images)

Jesse D. Garrabrant/NBAE via Getty Images

The Cleveland Cavaliers brought back restricted free agent Isaac Okoro on a new three-year contract worth $38 million, ESPN's Adrian Wojnarowski reported on Saturday.

Adrian Wojnarowski @wojespn
Restricted free agent F Isaac Okoro has agreed on a three-year, $38 million deal to stay with the Cleveland Cavaliers, Michael Tellem, Jeff Schwartz and Marcus Monk of <a href="https://twitter.com/excelbasketball?ref_src=twsrc%5Etfw">@excelbasketball</a> tell ESPN. Okoro — the fifth overall pick in 2020 — averaged 9.4 points a season ago. <a href="https://t.co/dFInx3QoMS">pic.twitter.com/dFInx3QoMS</a>

The Cavaliers extended a one-year qualifying offer worth $11.83 million to Okoro on June 29.

The 23-year-old didn't accept the offer, which was set to expire on Oct. 1, before signing a new deal with Cleveland (via ESPN's Bobby Marks). Per Marks, the Cavaliers were $10.4 million below the luxury tax before singing Okoro on Saturday.

Bobby Marks @BobbyMarks42
Updated Cleveland roster <a href="https://t.co/atSxxehI7h">pic.twitter.com/atSxxehI7h</a>

Okoro was drafted by the Cavaliers with the No. 5 overall pick in the 2020 NBA draft. The former Auburn standout is primarily known for his defense, able to remain effective while guarding multiple positions.

His offensive progression hasn't been linear, as he's averaged just 8.5 points and 2.9 rebounds in 27.6 minutes per game throughout his career. Still, it's worth noting that he connected on a career-high 39.1 percent of his three-point attempts during the 2023-24 season.

NBA @NBA
Mitchell no-look ➡️ Allen extra pass ➡️ Okoro 3-pointer 👌<a href="https://twitter.com/hashtag/NBAParis?src=hash&ref_src=twsrc%5Etfw">#NBAParis</a> | Live on NBA TV<br>📲 <a href="https://t.co/RrPDbIQWsd">https://t.co/RrPDbIQWsd</a> <a href="https://t.co/w2WmccOSUi">pic.twitter.com/w2WmccOSUi</a>

Okoro also showcased his versatility last season, helping the Cavaliers mitigate the loss of Evan Mobley once the shot-blocking forward missed roughly six weeks due to left knee surgery. Okoro spent 16 percent of his minutes at the power forward spot during his 2023-24 campaign after spending just 2 percent of his minutes in the role throughout his first three years in the association (via Basketball Reference).

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It's been a busy offseason for the Cavaliers, hiring former Golden State Warriors assistant Kenny Atkinson as head coach after J.B. Bickerstaff was fired. Cleveland signed All-Star guard Donovan Mitchell to a massive three-year, $150.3 million extension on July 7.

Team president Koby Altman wasn't done just yet, handing Mobley a five-year contract worth $224 million less than two weeks later.

Okoro is now set to return to a Cavaliers team that is looking to build upon a promising second-round playoff appearance, losing to the Boston Celtics in five games.