Shooting guard Kyle Korver will be back with the Cavaliers after the two sides agreed on a three-year, $22 million contract Sunday.
A league source confirmed the terms of the deal, which includes a partial guarantee in the third year.
Korver, 36, ranked first in the league in 3-point percentage (.451) last season. Acquired in a January trade with the Atlanta Hawks, he averaged 10.1 points in 26.2 minutes for the two teams. In the playoffs, he averaged 5.8 points and shot .391 from beyond the arc.
The Cavs made Korver an offer shortly after the opening of the free agency period at 12:01 a.m. Saturday. Contracts can't be officially signed until Thursday.
The Cavs retained Korver's Bird rights in the trade, which cost the Cavs a protected first-round pick, meaning they could exceed the salary cap to sign him. But Bobby Marks of ESPN reported Sunday that the Korver contract will increase the Cavs' luxury tax bill from $20.4 million to $42.7 million for next season.
At this point, they will have 12 players under contract Thursday after they reached agreement on a one-year deal with Jose Calderon on Saturday to become the backup point guard.
