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Donovan Mitchell, Cavaliers reportedly agree to 3-year, $150.3M max extension

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Donovan Mitchell celebrates during Game 7 of Cleveland's first-round series against the Magic. (Photo by Jason Miller/Getty Images)

After taking care of their first order of business by hiring Kenny Atkinson to be their new head coach, the Cavaliers have now checked the most important item off their summer to-do list, agreeing to terms with Donovan Mitchell on a new three-year, $150.5 million maximum contract extension, according to ESPN's Adrian Wojnarowski.

So why not a four-year extension worth over $200 million?