Los Angeles, United States – Kevin Love has signed a new long-term contract with the Cleveland Cavaliers as the franchise looks to the future following the departure of LeBron James, it was confirmed Tuesday.
The Cavaliers said in a statement Love had signed a multi-year contract.
Reports said the extension was worth $120 million over four years.
"We are very excited to announce Kevin's long-term commitment to the Cavaliers and Cleveland," general manager Koby Altman said.
"This quickly became a partnership the second we began these discussions. Collaboration and winning matter greatly to Kevin and that was reflected in this extension.
"Kevin's talent and character are both at a very high level and he has earned his role at the center of what we want to do moving forward. As a five-time All-Star and NBA Champion, Kevin has a special understanding of exactly what success and winning require."
Love has been a key pillar of the Cleveland set-up since signing from the Minnesota Timberwolves in 2014.
He helped the team reach four consecutive NBA Finals against the Golden State Warriors between 2015 and 2018, winning one title in 2016.
"When I first came to Cleveland, I came with a long-term mindset," Love said in a statement.
"I came here to win. We developed a culture here that reflects that. I'm super excited and I couldn't be happier. It's a big commitment for me and it's a big commitment from the Cavaliers."
Love made the NBA All-Star selection this season and started in 59 games for Cleveland, averaging 17.6 points.
Earlier this month the 29-year-old was reportedly poised to have talks with the Los Angeles Lakers, who stunned the NBA after signing James from Cleveland on July 9.
Love, a 10-year NBA veteran, is one of only eight players in NBA history to accumulate 11,000 points, 7,000 rebounds and 1,000 three-pointers.