J.R. Smith re-signs with Cavs for $5M – Details and News here!

JR SmithWith no takers to date, J.R. Smith ended up returning to the Cleveland Cavaliers on a two-year deal.

Smith announced the deal himself via his Instagram account.

Smith opted out of his original contract with the Cavaliers after last season. Had he picked it up, Smith would have been guaranteed $6.4 million instead. The current deal will reportedly be worth $5 million for the coming year and a player option on the second.

With this development, only Tristan Thompson remains unsigned. It has yet to be known what the Cavs and Thompson will end up with though it is likely that the Canadian forward will end up signing a one-year deal worth $6.8 million.

It remains to be seen however if the pronouncement of agent Rich Paul will stick, that of which is Thompson leaving the Cavs next season.

LeBron James was apparently the first one to welcome back Smith. He tweeted his appreciation via his Twitter account.

Smith was one of the players who stepped up last season, averaging 12.7 points and averaging 39% from three point country.