The Cleveland Cavaliers may be planning to offer guard Caris LeVert a contract worth $15-18 million annually, according to a Tuesday article from Cleveland.com Cavs reporter Chris Fedor.
“Despite being eligible for a four-year, $101 million extension prior to Friday, it’s unlikely the Cavs would pay that much,” Fedor wrote. “He averaged just 12.1 points (the lowest since his rookie year) on 43.1% from the field and a career-best 39.2% on 3-pointers to go with 3.9 assists and 3.8 rebounds in 30.2 minutes.
“So, is there a financial compromise? Sources say the Cavs are planning to offer LeVert a contract somewhere in the range of $15-18 million annually — a deal that would keep him out of the midlevel market but not harm the team’s expected pursuit of outside help as well. The preference is to re-sign LeVert and acquire a free agent or two with the MLE.”
Caris LeVert, a former first-round pick by the Indiana Pacers in the 2016 NBA Draft, averaged 12.1 points, 3.8 rebounds and 3.9 assists per game during the 2022-23 season. Cleveland traded for the 6-foot-6-inch guard and a second-round pick in 2022 in exchange for guard Ricky Rubio, a 2022 lottery-protected first-round draft pick and two second-round selections.
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Caris LeVert signed a three-year, $52 million contract extension with the Brooklyn Nets in 2019. LeVert currently has a “cap hold,” or “the placeholder figure a team’s own free agent counts against their salary cap until he either signs a new contract or has his rights renounced,” according to CBS Sports, of just under $28.2 million.
The NBA’s free agency negotiation period will begin on Friday at 6 p.m. EDT, according to ESPN. Cleveland has four players, including Caris LeVert, who are listed as unrestricted free agents in 2023, according to sports contracts and salaries website Spotrac. Forwards Dylan Windler, Mamadi Diakite and Isaiah Mobley are listed as restricted free agents. Cleveland picked up the $1.9 million team option for forward Lamar Stevens last week.