J.R. Smith announced on his Instagram account last night that himself and the Cleveland Cavaliers had signed a new deal.
The guard opted out of the final year of his deal, which would have paid him $6.4 million for the upcoming season. Unable to find a better deal, he return to the Cavs for a pay cut.
The new deal is worth more than $10 million in total and is for two years, with the second year being a player option and it also includes a no-trade clause. Smith will be reunited on the court with recent Cavs signings LeBron James, James Jones and Matthew Dellavedova.
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Smith said on his Instagram account: “Happy to say that I am returning to the Cavs! It’s been a long ride this summer but I can say for sure, well worth the wait. When I opted out of my contract, I wanted to understand the landscape of the NBA and where I fit best.
“The Cavaliers had things they needed to do in order to piece together a championship caliber roster. I ended up deciding that instead of potentially securing a larger deal elsewhere, I wanted to rejoin an incredible organization in pursuit of the ultimate goal, an NBA championship. Thank you to the Cavaliers for making this happen. Can’t wait to get started! #TheLand”
LeBron James tweeted out his delight with the recent news of Smith staying in Cleveland.
Smith was brilliant for the Cavs in their Eastern Conference finals against Atlanta, but he found it difficult to repeat that performance in the Finals against Golden State, as the Cavs lost in six games.