The Cleveland Cavaliers have signed forward Larry Nance Jr. to a multi-year contract extension.

“We are extremely excited to have Larry in a Cavaliers uniform long-term,” said Altman. “His athleticism is off the charts and his positive attitude, work ethic and most importantly, his desire to be in Cleveland embodies all that we want out of our players both on and off the court. We look forward to watching his continued development and feel strongly that Larry can be a special player in this league for many years to come.”

According to Cleveland.com, “Nance and the Cleveland Cavaliers have agreed to a four-year contract extension, solidifying him as a franchise building block while the organization attempts to rebuild a championship roster in the post-LeBron era. According to a league source, it’s a four-year deal worth $44.8 million.”

“I’m actually at a loss for words right now,” said Nance. “To continue playing basketball for a franchise I grew up with and watched as my father starred here is truly a blessing. I’m extremely happy to be a Cavalier and I can now begin to establish my own long-term legacy in this community. I want to thank Dan, Koby and our coaching staff for believing in me and my potential. This is truly a dream come true.”

Nance (6-9, 230) was originally acquired by the Cavaliers through a trade with the Los Angeles Lakers on Feb. 8, 2018. In 24 games (nine starts) with Cleveland last season, he averaged 8.9 points on .550 shooting, 7.0 rebounds and 1.21 steals in 20.8 minutes per contest. He played in 42 games (17 starts) for the Lakers, averaging 8.6 points on .601 shooting, 6.8 rebounds and 1.40 steals in 22.0 minutes per game. On the season, Nance averaged career highs of 8.7 points on .581 shooting, 6.8 rebounds and 1.33 steals in 21.5 minutes per game over 66 games (26 starts).

More from Cleveland.com: “Nance, an Akron-native, worked with the Cavs so his salary declines as the deal goes along and the team can maintain cap flexibility. The first year of his contract is expected to be worth $12.7 million. He is set to make around $9.6 million in the final year. There are no options included in the contract and he will become an unrestricted free agent following the 2023 season.”

The 6-9 forward recorded 11 double-doubles in 2017-18, including five as a member of the Cavs. He posted consecutive double-digit scoring outings in a career-high seven games from Feb. 27-March 11. In his first start with the Cavs on March 5, Nance set career highs in points, rebounds and field goals made, finishing with 22 points on 9-15 (.600) shooting and 15 rebounds in 32 minutes versus Detroit. Along with his father, Larry Nance Sr., who had 149 20-point outings as a member of the Cavaliers from 1988-1994, the Nances became just the fifth father-son duo to score at least 20 points in a game for the same franchise, joining Rick and Jon Barry (Houston Rockets), Doc and Austin Rivers (Los Angeles Clippers), Ernie and Kiki Vandeweghe (New York Knicks) and Gerald Henderson Jr. and Sr. (Philadelphia 76ers). Nance participated in the Verizon Slam Dunk Contest at 2018 NBA All-Star Weekend, where he finished in second place.

The Akron, Ohio native was originally selected by the Lakers with the 27th overall pick in the 2015 NBA Draft after playing four years collegiately at the University of Wyoming. He owns career averages of 7.1 points on .547 shooting from the field, 5.9 rebounds and 1.17 steals in 21.5 minutes per game in 192 career contests (55 starts) over three seasons with Los Angeles and Cleveland.