J.R. Smith and the Cleveland Cavaliers have agreed upon a four-year, $57 million contract. The deal has $45 million in guaranteed money over the first three seasons.
Smith and the Cavaliers waited until more than halfway into the preseason to agree upon a deal.
Smith did not pick up his $5.3 million player option for 16-17 in order to secure a long-term deal with the Cavs.
Bryan Colangelo and the Philadelphia 76ers made a strong push to sign Smith, which allowed talks to progress with the Cavaliers.