UPDATE:
Here are the specifics on Smith's new deal:
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After initially opting out of a contract that would have paid him more money, J.R. Smith announced tonight that he'll be returning to the Cleveland Cavaliers anyway. Smith's deal was originally set to pay him $6.4 million, but in search of a longer term contract Smith took the route of free agency.
Smith posted the following quote on his Instagram account regarding his decision:
"Happy to say that I am returning to the Cavs! It’s been a long ride this summer but I can say for sure, well worth the wait. When I opted out of my contract, I wanted to understand the landscape of the NBA and where I fit best. The Cavaliers had things they needed to do in order to piece together a championship caliber roster. I ended up deciding that instead of potentially securing a larger deal elsewhere, I wanted to rejoin an incredible organization in pursuit of the ultimate goal, an NBA championship. Thank you to the Cavaliers for making this happen. Can’t wait to get started! #TheLand"
Last year with Cleveland, after coming over via trade from the Knicks, Smith posted averages of 12.7 points, 3.5 rebounds, 2.5 assists and 1.4 steals per night in the regular season. Afterward he went on to average 12.8 points and 4.7 boards in the postseason.
[via Instagram]
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