Cons: Financial Flexibility
The obvious con of any large contract extension is the decreased financial flexibility. With Allen being on the books for three more years, and at a large dollar amount - the Cavs will have less flexibility in the future. With this extension, the Cavs are less likely to be active in future free agency periods, especially considering that the three other members of Cleveland's core have secured a maximum extension, too.
With the core four of Garland, Mitchell, Mobley and Allen all being under contract for the next few years at absorbent amounts, the Cavaliers could be looking at being a second-apron team. Being this far in the luxury tax will make bringing in any free agent of consequence extremely difficult. The Cavaliers will either need their roster to be good enough to win on their own, or they will have to look at the trade market for upgrades.
Thus far, the core has withstood numerous trials from a playoff embarrassment in 2023 to an injury-riddled regular season this past year. Still, steady improvement and commitment from the leading star Donovan Mitchell have spurred the trust that this group's ceiling is worth more than the financial limitations it will include.