Kyrie agrees to deal, Cavs feel 'pretty good' as LeBron decision looms

All-Star point guard agrees to five year extension.

Irving was the No. 1 overall pick in the 2011 NBA Draft, and averaged 20.8 points and 6.1 assists in 71 games last season. He was also named All-Star Game MVP.

Bob Donnan / USA TODAY Sports

CLEVELAND -- On a day in which the entire NBA continued to wait on LeBron James' new decision, the Cavaliers were all about Kyrie Irving.

The Cavs announced they have reached an agreement with Irving, their All-Star point guard, on a five-year, $90 million contract extension.

Irving agreed to sign the contract less than two hours into his meeting with Cavs officials, with both Irving and team owner Dan Gilbert tweeting their excitement over the news.

Along with Irving, young players such as Dion Waiters, Tristan Thompson, and No. 1 overall draft pick Andrew Wiggins have the Cavs feeling good about their future.

The Cavs also hired David Blatt as their new coach after Blatt spent his entire career having success overseas.

How quickly their bright future comes, of course, may be largely dependent on where the four-time MVP James decides to play next. Obviously, if James chooses the Cavs, the process of winning big is likely to speed up considerably.

But the Cavs seem to be going about business as usual for the time being.

"As of right now, nothing has changed from our perspective," a team source told FOX Sports Ohio. "We feel pretty good now where we stand."

Irving was the No. 1 overall pick in the 2011 NBA Draft, and averaged 20.8 points and 6.1 assists in 71 games last season. He was also named All-Star Game MVP.

"We couldn't be happier to have Kyrie firmly at the core of our Cavaliers team and family for years to come," Cavs general manager David Griffin said in a prepared statement. "He's already proven he's among the best in the NBA and we're excited to watch his continued growth and success."