The deal runs through the 2027-2028 season, according to ESPN NBA insider Adrian Wojnarowski. The new contract comes with a new job title: president of basketball operations.
Altman, 39, joined the Cavs in 2012 and was part of the organization for their championship in 2016. He became the general manager the following year.
Cleveland is 23-18 with a slew of young stars, including Collin Sexton, Darius Garland and Evan Mobley, who are generating tons of praise across the league.