Danny Ferry was set to become the new general manager of the Cavaliers on Saturday, but while he was on his way to catch a plane to Cleveland, he held up on finalizing the deal for undisclosed reasons.
Ferry initially agreed to a five-year deal worth close to $10 million, according to two league executives. The deal also included incentives.
Before the negotiations hit a snag, Ferry, director of basketball operations for the San Antonio Spurs, was scheduled to start work today to get the Cavs involved in Tuesday's NBA draft.
The Cavs had been expected to announce a news conference introducing Ferry to the media early next week.
The Cavs talked to Ferry for several weeks. Those talks intensified when Ferry interviewed with the Cavs twice last week when the Spurs were in Detroit for the NBA Finals.
According to a league source, Ferry did not want to make a decision until the finals were over. Ferry initially accepted the Cavs' offer two days after the Spurs won the NBA championship.
Ferry has been in the Spurs' front office since September 2003 after playing 13 NBA seasons. He was selected by the Clippers with the second overall pick in the 1989 draft. Ferry held out and played overseas before signing with the Cavs, who received his rights from the Clippers following a trade that included Ron Harper. Ferry spent 10 seasons with the Cavs.