Cavs news: Cleveland could save $10 million on luxury tax bill by moving Richard Jefferson’s contract
In the wake of securing the commitment of All-Star guard Dwyane Wade on a one-year, $2.3 million deal, the attention has shifted toward the proceeding roster moves needed in order to put together the 15-man regular season roster.
According to Bobby Marks of ESPN, one move the Cavaliers could possibly make is parting ways with veteran forward Richard Jefferson.
Cleveland would save $10M in luxury taxes if they moved the $2.5M Richard Jefferson contract. 18-19 salary for Jefferson is non-guaranteed.
— Bobby Marks (@BobbyMarks42) September 27, 2017
The 37-year-old currently has two years left on his three-year, $7.6 million contract where he’s set to make $2.5 million next season and has a non-guaranteed $2.6 million for the 2018-19 campaign. If the Cavaliers are interested in cutting decent portion of luxury tax from their salary cap, this would certainly be a move to consider if that is the front office’s mindset.
That said, Jefferson has proven to be a valuable part of the team over the last two seasons, especially in the playoffs while also proving to be a strong locker room presence. All of this could play largely in his favor once the Cavs cut down their roster in the coming weeks.
The Cavs have already cut big man JaCorey Williams on Wednesday afternoon in order to make room for Wade due to the roster being at the training camp limit of 20 players under contract.