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**NOTE: The news clips and articles listed don't necessarily reflect the views or beliefs of the Cleveland Cavaliers or their Basketball Operations staff, partners, or sponsors.**
Cavaliers waive JR Smith, get under luxury tax threshold
Author: Marla Ridenour
Publication: Akron Beacon Journal
Unable to trade what was once believed to be a valuable expiring contract, the Cavaliers waived guard J.R. Smith on Monday.
The move, along with stretching over the next three years the $4.4 million guaranteed to Smith, got the Cavs under the $132 million luxury tax threshold for the 2019-2020 season.
Presuming he clears waivers, Smith will become an unrestricted free agent at 5 p.m. Wednesday.
The Cavs were expected to waive or trade Smith by a June 30 deadline so they could pay him only $3.87 million of his guaranteed $15.68 million salary for next season. On June 29, Smith agreed to push back that date to Monday, with an option to push it again to Aug. 1, in exchange for his guaranteed money being increased to $4.4 million.
The Cavs had offers for Smith, according to Chris Fedor of Cleveland.com, but opted not to pay the luxury and repeater taxes in the second season of what could be a long rebuild. - CLICK HERE to read full story.
Cavaliers end JR Smith saga by waiving him
Author: Jeff Schudel
The Cavaliers waived guard J.R. Smith on July 15, finally closing the book on a story that turned ugly last season.
The move was announced by the Cavaliers in a two-paragraph release. “The Cavs would like thank J.R. for his contributions and wish him luck in his future endeavors” statement from the team.
Smith played only 11 games last season. He never played after he appeared for six minutes and scored two points against the Pistons on Nov. 19, 2018. He was healthy, but he did not like the direction the team was headed and did not want to come off the bench with diminished time in an obvious rebuild.
The Cavaliers and Smith mutually agreed “Out of sight, out of mind” was best for the player and for the team. But Smith remained under contract for the 2019-20 season. - CLICK HERE to read full story.
JR Smith era over in Cleveland as Cavaliers waive veteran guard
Author: Rick Noland
Publication: Medina Gazette
J.R. Smith will no longer be going shirtless as a member of the Cavaliers.
Unable to trade the colorful but enigmatic shooting guard, the Cavs waived the 33-year-old Smith on Monday afternoon.
Smith was under contract for almost $15.7 million for the coming season, but only $3.9 million of that was guaranteed. Prior to the June 30 deadline to trade him, the Cavs and Smith agreed to increase the guaranteed amount to $4.4 million in order to give the team until Monday to move him.
Cavs general manager Koby Altman, concerned about taking back a salary that would put his rebuilding team into the luxury tax, was unable to find a suitor and decided against extending the deadline to Aug. 1.
That means Smith, an integral part of Cleveland’s 2016 championship team but basically paid $14.7 million to stay home last season, will be an unrestricted free agent when he clears waivers at 5 p.m. Wednesday. - CLICK HERE to read full story.
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