CLEVELAND, Ohio -- Two days before opening the regular season, the Cleveland Cavaliers accomplished one of their primary goals, keeping Larry Nance Jr. in Cleveland for the long haul.

The two sides agreed to a four-year contract extension worth $44.8 million shortly before the 6 p.m. deadline on Monday night.

"We are extremely excited to have Larry in a Cavaliers uniform long-term," general manager Koby Altman said in a press release. "His athleticism is off the charts and his positive attitude, work ethic and most importantly, his desire to be in Cleveland embodies all that we want out of our players both on and off the court.

"We look forward to watching his continued development and feel strongly that Larry can be a special player in this league for many years to come."

The Cavs have put an emphasis on solidifying their new core with players who want to be with the team and are willing to show that commitment.

Kevin Love first did that with his summer extension, accepting the immense responsibility of navigating the Cavaliers through the post-LeBron years. Nance has followed suit, reaffirming his love for the city and what the organization is trying to build.

League sources told cleveland.com that Nance -- an Akron-native who grew up rooting for the Cavs -- worked with the organization so his salary declines as the deal goes along and the team can maintain cap flexibility.

That's always been important for the Cavs, allowing them to get back in the free agency mix at some point when they are able to move on from some hefty contracts currently weighing them down.

The first year of Nance's contract is expected to be worth $12.7 million. He is set to make around $9.6 million in the final year. There are no options included in the contract and he will become an unrestricted free agent following the 2023 season.

"I'm actually at a loss for words right now," said Nance. "To continue playing basketball for a franchise I grew up with and watched as my father starred here is truly a blessing. I'm extremely happy to be a Cavalier and I can now begin to establish my own long-term legacy in this community. I want to thank Dan (Gilbert), Koby and our coaching staff for believing in me and my potential. This is truly a dream come true."

The deal was announced and signed inside The Q in front of Cavaliers and Quicken Loans Arena staff members. Nance wore a black T-shirt with "HOME" spelled out in bright orange letters trimmed in blue across the front.

"I'm one of you guys. I'm a Cleveland guy at heart," he said. "There's no place I would rather be."