Cavs' GM Koby Altman signs contract extension, named president of basketball operations

With the Cavaliers having already surpassed last season’s win total, General Manager Koby Altman signed a contract extension through the 2027-28 season, the team announced Wednesday.

Altman was named president of basketball operations.

“Today is a great day for the franchise and another step forward in realizing our vision that includes stability in leadership for the Cleveland Cavaliers,” Cavs Chairman Dan Gilbert said in a statement. “In extending Koby Altman’s contract and elevating his title to president of basketball operations, I have the utmost confidence in his ability and the culture he has established.

"Koby consistently adapts to the ever-changing landscape of the NBA and he has assembled a team whose players complement each other’s talents both on and off the floor, in addition to a front office and coaching staff of top-notch basketball minds. I feel our organization is primed for sustainable and long-term success and that is in no small part thanks to Koby’s efforts, determination, and talent. I look forward to what’s ahead for Koby and the Cavaliers.”

The Cavs (23-18) stand sixth in the Eastern Conference going into Wednesday's game at Utah after finishing 22-50 last season. After LeBron James left for the Los Angeles Lakers following the 2017-18 season, they won only 19 games each of the next two seasons.

The Cavs' winning percentage has increased by .255 from 2020-21 (.306), the second-largest increase in the league behind Chicago (.279). The Cavs are one of two NBA teams with a winning record whose top three scorers are 23 or younger, along with the Memphis Grizzlies.

“It has been an honor and extreme privilege to represent this organization and I’m truly humbled by the confidence granted to me by our chairman, Dan Gilbert,” Altman said in a statement. “His leadership has allowed us the freedom to incorporate our strategy and vision intended for the future of Cleveland Cavaliers basketball. This is a first-class organization with a passionate and loyal fanbase. I will forever be grateful for this continued opportunity.

"With Dan setting the example and providing us with amazing resources, we are building something truly special here in Northeast Ohio. We remain committed to our player development program and our players have shown incredible growth and improvement this season. Our evolving culture is driven by our players, coaches and staff, who all play a significant role in defining what it truly means to be a Cavalier and we are very excited for our future.”

The extension continues Altman’s partnership with coach J.B. Bickerstaff, given a new contract on Christmas that runs through the 2026-27 season.

Bickerstaff said on Dec. 26 that he and Altman have a shared vision. But Bickerstaff also knows what continuity means for the franchise.

"It means a lot. It’s the consistency that you aim for in any successful organization," Bickerstaff said Wednesday night at Vivint Arena. "I’ve yet to see an organization that’s constantly in flux have any sustainable success. Having Koby around for as long as he’s been around, what you appreciate the most is the opportunity for him to finish his plan.

"Obviously after the Finals appearances, there was a plan that was put in place. Our league is a very impatient league, so it speaks a lot to the caliber of ownership that they’re giving Koby the runway to finish out his vision. Obviously, there’s been a lot of lumps taken to where we are now where we feel like we’re on solid footing, but still with room to grow with the group of guys that Koby has assembled.

"I couldn’t be happier for him. He deserves it, he works his tail off, he leads us in the right way. He’s helped create an environment and a culture of positive energy and togetherness and we feel that every day. So I couldn’t be more excited for him."

The addition of third overall pick Evan Mobley, a 7-foot center/forward from the University of Southern California who is among the top candidates for Rookie of the Year, has helped vault the Cavs into playoff contention. The Cavs signed 6-11 center Jarrett Allen to a five-year, $100 million contract in August and traded for 7-foot forward Lauri Markkanen from the Chicago Bulls in a multi-team deal.

Along with Allen, point guard Darius Garland is among the top 10 in voting for the Feb. 20 All-Star Game in Cleveland. Garland is averaging 19.4 rebounds and 7.3 assists in 35 games.

After the Cavs lost backup point guard Ricky Rubio to a torn ACL on Dec. 28, Altman executed a three-team deal to bring in Rajon Rondo, 35, from the Lakers. The Cavs have found success despite guard Collin Sexton undergoing season-ending knee surgery on Nov. 17.

Altman had to find replacements on the fly, which Bickerstaff said is an indication of Altman's "willingness and ability to execute his plan."

"When we went out and acquired Ricky, we knew how important he would be to this team. And then when Ricky goes down there’s a void that needed to be filled," Bickerstaff said. "And then you look at his ability to execute a deal and get something done to help the team’s momentum because of what direction we’re heading in."

Forward Cedi Osman has come off the bench to shoot a career-best .398 from 3-point range and five-time All-Star forward Kevin Love has embraced his role with the second team, shooting .411 from deep, his best since 2017-18, and is averaging 14.2 points and 7.4 rebounds.

The Cavs look primed for the future, owning all of their remaining first-round picks and 12 second-round picks over the next seven seasons. Additionally, 11 of the 15 players carry team options or non-fully guaranteed years at the end of their contract terms.

Altman was named interim GM after the Cavs parted ways with David Griffin, architect of the 2016 NBA championship team, after the 2016-17 season. Altman was formally appointed to the position on July 24, 2017.

Joining the Cavs in August 2012 as a pro personnel manager, Altman was named assistant GM in August 2016.  A point guard at Middlebury College, Altman has also been a college assistant coach at Columbia, Southern Illinois, and Amherst College and gained experience with USA Basketball.

Marla Ridenour can be reached at mridenour@thebeaconjournal.com. Read more about the Cavs at www.beaconjournal.com/cavs. Follow her on Twitter at www.twitter.com/MRidenourABJ.