J.R. Smith agrees to new 4 year deal

October 15, 2016

According to ESPN'S Marc Stein, J.R. Smith has agreed to return to Cleveland. Smith's new deal is a four-year $57 million dollar deal. Also reported by Stein there were six other teams with anywhere from $13 million to $27 million in cap space: Minnesota, Phoenix, Utah, Denver, Brooklyn and Philadelphia. Smith declined his $5.3 million player option to test free agency. The league's new $24 billion dollar tv deal went into effect in June, with each team start with a $94 million cap. LeBron James, Tristan Thompson, and now J.R. Smith all have new deals, will put the Cavs well over the luxury tax. Last year owner Dan Gilbert spent over $53 million in luxury taxes. This year tax payments might be less. James is the highest paid player on the team and in the league at $30 million followed by Kevin Love at $21 million, Kyrie Irving at $17 million. Can the Cavs defend their championship? Stay tuned for more updates on everything sports.

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