4:03pm: Brown and the Cavs have an agreement in principle for a five-year deal worth a little south of $25MM, according to Sam Amick of USA Today.
3:44pm: An official announcement on Brown could come as soon as today, tweets Sam Amico of FOX Sports Ohio.
2:51pm: The five-year deal for Brown will be worth more than $20MM, according to Wojnarowski (via Twitter).
2:38pm: Brown and the Cavs are working toward finalizing a five-year contract, says Wojnarowski, adding that the final year would include a buyout provision (Twitter link).
2:31pm: The Cavs and Brown "still have some issues to resolve," a source tells Adrian Wojnarowski of Yahoo! Sports (Twitter link). However, Wojnarowski confirms that a deal could be announced tomorrow. It sounds as if the two sides are simply sorting through some details at this point. One of those details is the offset on the salary still owed to Brown by the Lakers, according to Ken Berger of CBSSports.com (Twitter link).
2:09pm: The Cavs and Brown have reached a "handshake agreement" on a deal, reports Lloyd (via Twitter). An official announcement is expected tomorrow, according to Lloyd.
2:00pm: Since parting ways with Byron Scott last week, the Cavaliers have seemingly been focusing on former head coach Mike Brown. Jason Lloyd of the Akron Beacon Journal confirms (via Twitter) that Brown has emerged as the frontrunner for the team's open coaching position, and adds that a deal between the two sides could be announced as soon as tomorrow.
Brown, who was let go by the Lakers five games into the 2012/13 season, has been a popular target this offseason for teams seeking a new coach. One report indicated that Brown had turned down multiple offers from the Suns, while another report suggested that his name was at or near the top of the Sixers' wish list. ESPN.com's Marc Stein also tweeted today that the Hawks are expected to target Brown if and when they part ways with current head coach Larry Drew. By moving quickly on Brown, the Cavs could prevent current playoff teams like the Hawks from having a chance at him.
Brown is still believed to be owed about $8MM in salary by the Lakers, so he's under no real pressure to find a new job. There's certainly some appeal to the Cavs' position though, as Brown was already planning to be based in the Cleveland area. Additionally, the team is stocked with draft picks, cap space, and a young superstar in Kyrie Irving.