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Cavs Ink Irving to Extension

Chris Chambers/Getty Images(CLEVELAND) -- Even the potential of luring LeBron James back could not prevent the Cleveland Cavaliers from making a major signing. On Thursday, the Cavs made it official by signing point guard Kyrie Irving to a five-year, $90 million extension.

While the agreement was reached last week, Cleveland could not publicly confirm the deal until the NBA's moratorium on free agency ended on Thursday. The new contract keeps Irving in a Cavaliers jersey through 2020.

"We are excited that Kyrie has officially committed to be here long term with the Cleveland Cavaliers," owner Dan Gilbert said in a release. "The future has never been brighter as we are building the team and franchise for sustainable success. Kyrie is obviously a very big piece of our plan."

The three-year veteran averaged 20.8 points, 6.1 assists, and 3.6 rebounds last year for Cleveland. Irving was also named the Most Valuable Player at the NBA All-Star Game.

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