Kyrie Irving agrees to 5-year extension with Cavaliers worth reported $90M

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The Cleveland Cavaliers have wasted no time locking up their franchise point guard - and had their owner deliver the good news himself in the wee hours Tuesday morning:

Irving joined the party a short time later:

According to Yahoo! Sports' Adrian Wojnarowski, the five-year extension will pay Irving $90 million. Irving can't officially sign the contract until the leaguewide moratorium is lifted on July 10th - but judging by Gilbert's tweet, Cleveland fans should expect him to do it as soon as he's able.

Your thoughts on $90 million, Kyrie?

Gilbert and the Cavaliers were aggressive in their pursuit of a long-term deal for the 22-year-old superstar, who has averaged 22.1 points and 6.2 assists over his three NBA seasons. A contingent flew to New Jersey to meet with Irving, and the two sides discussed the extension before finalizing the details early Tuesday.

Irving is entering the final year of his rookie scale contract, which will pay him $7.07 million this season.

With Irving in the fold long-term, expect Cleveland to continue its pursuit of at least one high-level free agent.