Cleveland Cavaliers Rumors: Matthew Dellavedova Agree to a One-Year Deal

Matthew Dellavedova has agreed to sign a one-year deal with the Cleveland Cavaliers, league sources revealed. His contract is reportedly worth $1.2 million.

The point guard from Australia, who became the Cavaliers' surprise hero in their run to the NBA Finals after point guard Kyrie Irving suffered an injury, was reportedly offered $1.15 million to return. The offer, however, was too low for Dellavedova, who supposedly asked for $4 million.

After a month in limbo, the Cavaliers finally have the means to up Dellavedova's offer, leading many to believe that the Aussie will be staying in Cleveland. The Cavaliers, however, only increased his offer by half a million.

The Cavaliers send Brendan Haywood and Mike Miller to the Portland Trail Blazers on Sunday in order to cut their luxury tax bill from $32 million to $5 million.

The Cavaliers signed several huge contracts this offseason. They agreed to a two-year, $47 million deal with LeBron James, a five-year, $110 million deal with Kevin Love and a four-year, $40 million deal with Iman Shumpert.

The team still has not signed free agents Tristan Thompson and J.R. Smith although the rumors claim that they plan on signing Thompson. Smith's future with the team is still up in the air.

Dellavedova made $816,000 last season. In the playoffs, he averaged 7.2 points and 2.7 assists in 20 games. His hustle in the playoff games helped the Cavaliers advance to the finals. However, in the final three games, Dellavedova was not as effective.

He will become an unrestricted free agent next summer. Dellavedova will be playing for his home country in the FIBA Oceania Championship next month.