The Cavs have signed second-round pick Carrick Felix to a four-year contract, and the first three seasons are fully guaranteed, HoopsWorld's Eric Pincus tweets. RealGM.com first reported the signing on their transactions log.
The deal is for $510K in year one, according to Pincus, and that's slightly more than the $490,180 minimum salary for a rookie. The other three seasons are for the minimum. Previous signings and agreements the Cavs have made this summer appear to have put them over the cap, but perhaps the reported figures are off. Cleveland has its room exception available, but teams can't use it to sign players to contracts of more than two years in length.
Felix, who was the 33rd overall pick in June, and Ricky Ledo of the Mavs are the only two second-round picks to receive four-year contracts this summer. The Arizona State shooting guard is the second of Cleveland's three selections this season to sign. No. 19 pick Sergey Karasev inked his deal last month, but top pick Anthony Bennett remains unsigned.