Smith had a lengthy holdout after the Cavs won the NBA title last season, with the Associated Press earlier today saying the two sides were growing further apart. Smith was reportedly beginning to look at signing with other teams since the preseason had already started. The Cavs were playing the Bulls on Friday.
The Cavs acquired Smith two years ago from the New York Knicks in a multi-team trade. Smith averaged 12.5 points in his two seasons with Cleveland while averaging .396 from 3-point range.
Cleveland.com reported Smith was watching the Cavs exhibition game with teammates back in Cleveland. Most rotation players weren't expected to play. Smith had yet to sign the contract, but the two sides had a verbal agreement on a deal that would pay him around $14 million a year .
The deal comes two days after LeBron James and coach Tyronn Lue told ESPN the Cavaliers tried to sign James’ former Miami Heat teammate and perennial all-star Dwyane Wade, but the teamcouldn’t afford him.
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