The Cleveland Cavaliers exercised their option Tuesday for a one-year contract extension with Russian center Timofey Mozgov through next season, team general manager David Griffin said. The deal is for $4.95 million (4.4 million euros) and comes a week after the Cavaliers lost to the Golden State Warriors in the sixth game of the NBA Finals, handing the Warriors their first crown in 40 years and missing the chance to bring the city of Cleveland its first sports champion since 1964. The option used by the Cavaliers was one of the reasons they obtained Mozgov from Denver last season for two first-round picks in the NBA Draft, ensuring they would have the 7-footer for a second season at a relative bargain price.