Cleveland Cavaliers president Koby Altman, who has played a key role in building the strong NBA championship team, has signed a contract extension that lasts until the 2029-30 season, sources informed ESPN on Monday.
Due to the team’s steady improvement over the years and their No. 1 seed in the Eastern Conference last season, owner Dan Gilbert decided to reward Altman and his front office team. This includes general manager Mike Gansey and assistant general manager Brandon Weems, who all received multiyear extensions, sources said.
The Cavaliers have achieved the third-best record in the NBA over the last three seasons, making it to the playoffs each year and winning the second-most games in franchise history during 2024-25.
They reached the Eastern Conference semifinals but lost to the Indiana Pacers in five games, facing challenges due to injuries that kept Donovan Mitchell, Darius Garland, Evan Mobley, and De’Andre Hunter off the court for some time.
According to sources, Altman’s representative Bret Just from WME Basketball completed a new deal with the team before the playoffs began.
Altman and his team drafted Defensive Player of the Year Mobley and two-time All-Star guard Garland in 2021 and 2019, respectively. They also traded for Jarrett Allen in 2021 and made a significant trade for All-NBA superstar Mitchell in 2022. Last offseason, they brought in Kenny Atkinson, who received Coach of the Year honors.
This offseason, the Cavaliers traded for Lonzo Ball from the Chicago Bulls to take over as their main backup point guard, re-signed Sam Merrill, and welcomed back veteran big man Larry Nance Jr.
Altman became the Cavaliers’ GM in July 2017 and was promoted to president of basketball operations in 2022. This marks his third contract extension with ownership showing patience as they build step by step.
Gilbert recently led Cleveland’s efforts to acquire a WNBA expansion franchise and successfully secured a team at the end of June. He and his ownership group are also working on a new state-of-the-art practice facility for the Cavaliers that will be 210,000 square feet.
