FEBRUARY 15, 8:05am: The Cavaliers have officially signed Green, the team confirmed in a press release.
FEBRUARY 12, 3:04pm: The Cavaliers and Green have reached an agreement, according to Wojnarowski (Twitter link). The deal will be worth $2MM for the rest of the season, Shams Charania of The Athletic reports (via Twitter).
That’s more than a prorated minimum-salary contract for Green would be worth, so it’ll come out of Cleveland’s mid-level exception — the team only used a portion of the MLE to sign Ricky Rubio last summer.
The agreement will leave the Cavs’ team salary about $471K below the tax line, tweets Yossi Gozlan of HoopsHype.
FEBRUARY 12, 12:21pm: After reaching a buyout agreement with the Rockets earlier today, free agent swingman Danny Green is “nearing an agreement” to sign with the Cavaliers, his Roc Nation Sports agent and attorney Raymond Brothers informs Adrian Wojnarowski of ESPN (Twitter link).
Cleveland, who has needed help stabilizing its small forward position, could benefit from the influence of Green. When healthy, he’s a still-impactful 3-and-D vet who has won three titles for three different clubs.
Woj tweets that Green’s representatives and the Cavs are still sussing out the terms on an agreement.
Green, 35, is recovering from ACL and LCL tears he suffered while in the playoffs with the Sixers last season. He only appeared in three games with Memphis.
For what it’s worth, the 6’7″ wing has tweeted, “It’s not done yet…,” presumably in reference to the impending new contract with Cleveland.