JR Smith: 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 http://instagram.com/p/6oG0NDNfH-/
July 25, 2016 | 10:06 pm EDT Update
After helping to deliver the Cleveland Cavaliers an NBA championship, head coach Ty Lue has agreed to a five-year, $35 million contract extension, league sources told The Vertical. The agreement was reached on Monday and a formal announcement is expected in the next 24 hours, league sources told The Vertical.
After his promotion to head coach following David Blatt’s firing in January, Lue gambled on himself and decided against signing a shorter, less lucrative deal as Cavaliers coach – never signing a three-year, $9.5 million contract framework. Lue’s decision turned out to be prophetic, because the Cavaliers’ improbable 3-1 comeback victory in the NBA Finals against the Golden State Warriors allowed for him to become compensated among the NBA’s elite head coaches.