J.R. Smith Signing With Cavs on 4-Year, $57M Deal
Following a lengthy stalemate, J.R. Smith has agreed to a four-year deal with the Cleveland Cavaliers.
Sources say the deal is worth $57 million, with $45 million guaranteed over the next three seasons.
The fourth season is not fully guaranteed, but will become guaranteed if the Cavs choose not to waive him after the 2018-19 season, when he would be 34 years old.
"Bringing J.R. back as part of our core group was a priority for us," general manager David Griffin said in a statement. "He's a special part of this family and we are very pleased to have reached an agreement that we all can feel good about. We know he can't wait to get back on the court with his brothers and we are certain that everyone in this organization and city feels the same way."
"We are extremely happy and proud to say that we have agreed to terms to come back to the Cleveland Cavaliers, aka the champs, aka my brothers. It's been a long road," Smith said, in a video to the a video to Uninterrupted. "I appreciate everybody sticking out through this rough patch of time. I know this holdout and everything else has been long and tedious for everybody, but it's extremely huge for us. We're happy to be a part of the Cleveland family and just want to take it one day at a time."
ESPN points out that Smith has earned approximately $45.5 million through his first 12 seasons in the league, so his new contract, if fully vested, will more than double that amount in a third of the time.