Free agent guards Jacob Gilyard and Zhaire Smith are signing Exhibit 10 contracts with the Cavaliers, reports Chris Fedor of Cleveland.com (subscription required).
Gilyard, 26, spent last season on two-way deals with the Grizzlies and Nets, appearing in a total of 41 games for the two teams. The 5’9″ point guard held his own in a rotation role for Memphis, averaging 4.7 points and 3.5 assists with a .425 3PT% in 17.7 minutes per game across 37 outings (14 starts).
However, two-way players can’t be active for more than 50 NBA games, so with Gilyard just about at that limit, the Grizzlies opted to waive him rather than promote him, putting him on track to finish the season in Brooklyn. He became an unrestricted free agent this summer after the Nets opted not to tender him a two-way qualifying offer.
As for Smith, the former No. 16 overall pick spent most of last season with the Cleveland Charge in the G League, briefly earning an NBA call-up on a 10-day contract with the Cavaliers in February. In 47 Showcase Cup and regular season games for the Cavs’ NBAGL affiliate, the 6’4″ guard averaged 13.3 points, 4.1 rebounds, and 1.8 assists in 33.0 minutes per contest, posting an impressive shooting line of .539/.394/.836.
Since Cleveland controls Smith’s G League returning rights and recently acquired Gilyard’s rights in a trade with the Memphis Hustle, the plan will likely be for both players to report back to the Charge this fall. Their Exhibit 10 contracts will make them eligible for bonuses worth up to $77.5K as long as they spend at least 60 days with the Cavs’ G League team.
According to Fedor, before they’re waived, Gilyard and Smith will get the opportunity to attend training camp with the Cavs along with fellow invitees Pete Nance and Jules Bernard. A report on Monday indicated that those two players, along with Nae’Qwan Tomlin and Gabe Osabuohien, had agreed to Exhibit 10 deals with Cleveland. Fedor confirms that reporting, but says Tomlin and Osabuohien are expected to be waived before camp begins.
The Cavs’ deals with Bernard, Tomlin, and Osabuohien are now official, per RealGM’s transaction log.
The Cavs are already carrying 14 players on standard contracts and three on two-way deals, so they’ll be at the 21-man limit once their back-of-the-roster transactions are complete.