The Cleveland Cavaliers have signed Golden State Warriors restricted free agent Patrick McCaw to a two-year, $6 million deal, according to multiple reports.
Patrick McCaw of the Golden State Warriors has finally ended his holdout with the team and decided to sign a deal with the Cleveland Cavaliers.
Adrian Wojnarowski of ESPN first reported the news.
Golden State restricted agent Patrick McCaw is signing an offer sheet with Cleveland today, league sources tell ESPN.
— Adrian Wojnarowski (@wojespn) December 28, 2018
Shams Charania of The Athletic then confirmed the news two minutes later, and so did multiple reporters.
Golden State Warriors restricted free agent Pat McCaw is signing a two years, $6M offer sheet with the Cleveland Cavaliers, per league sources.
— Shams Charania (@ShamsCharania) December 28, 2018
Can confirm #Cavs signed restricted free agent Patrick McCaw to 2-year offer sheet. Warriors have 48 hours to match.
— Tom Withers (@twithersAP) December 28, 2018
The standoff situation between McCaw and the Warriors has been the weirdest one to date in recent memory.
The Warriors have a couple of days to match the offer sheet, but due to luxury tax reasons, they may not match the offer.
It would cost the Warriors $11.3 million to match and keep McCaw.
McCaw has clearly indicated that he no longer wants to play for Warriors. As @BobbyMarks42 reports, matching sheet and keeping McCaw will cost Golden State $11.3M tax.
— Adrian Wojnarowski (@wojespn) December 28, 2018
It will also increase the Warriors paying the tax bill.
Matching the Patrick McCaw offer sheet would see the Golden St. tax bill increase from $50.3M to $61.6M.
— Bobby Marks (@BobbyMarks42) December 28, 2018
Wojnarowski says the Cavs or Warriors (If they match) can waive McCaw before Jan. 7.
"The deal will pay McCaw $3 million in each of the next two seasons, but the Cavs or Warriors could waive McCaw before Jan. 7 and not be liable for his remaining salary."
In the same article, it re-states the Warriors offer McCaw a similar deal back in October.
"McCaw declined a two-year, $5.2 million offer from Golden State, a source told The Undefeated’s Marc J. Spears in October."
Last season, which was his second in the league, he averaged 4.0 points, 1.4 rebounds and 1.4 assists in 57 games. He shot 42.1 percent from the field and 29.6 percent from three.
Chris Haynes of Yahoo! Sports reported nine days ago the Warriors are committed to matching any offer sheet for McCaw.
It will be an interesting situation to watch if the Warriors decide to match, or not to match the offer sheet from the Cavaliers.