Kyrie Irving has reportedly declined his contract option but plans to sign a new three-year, $119 million deal with the Dallas Mavericks, Shams Charania of ESPN reports.

“BREAKING: Dallas Mavericks nine-time NBA All-Star Kyrie Irving is declining his $43 million player option and intends to sign a three-year, $119 million contract with the franchise, sources tell ESPN. The deal includes a player option in the 2027-28 season,” Charania wrote on X, formerly Twitter.

The decision makes sense for Irving, who will miss the first portion of the 2025-26 season while recovering from ACL surgery. This new contract provides the Mavs star with security. However, the 2027-28 player option gives him flexibility as well.

The decision is also crucial for the team. It goes without saying, but keeping Irving on the roster is the most important element of the situation. According to Bobby Marks of ESPN, though, it provides Dallas with another pivotal factor to consider.

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“The new Kyrie Irving contract will likely will give Dallas the flexibility to use their $5.7M tax midlevel exception. If Irving opted-in, Dallas was a second apron team and the exception would not be available unless a trade,” Marks wrote on X.

The Mavericks are currently preparing for the 2025 NBA Draft, where they are expected to select Cooper Flagg. Irving and Flagg both attended Duke, so there may already be a connection between the two. Learning from a veteran star such as Irving will give Flagg a tremendous advantage at the NBA level.

This is a Mavs team that wants to win a championship sooner rather than later. That motivation was clearly evidenced by their decision to trade a franchise superstar in Luka Doncic to the Los Angeles Lakers for a package led by 31-year-old Anthony Davis. Dallas' core of stars isn't getting any younger, so getting the job done within the next couple of years is the goal.

Cooper Flagg represents the future, but Irving — once he returns from injury — and Davis will attempt to lead the Mavs to the NBA Finals as soon as possible.