SATURDAY, 2:02pm: The Cavs didn’t pull their offer, according to Chris Haynes of the Northeast Ohio Media Group and the Cleveland Plain Dealer, who indicates it might not be worth precisely $80MM but is “in the ballpark” of that number, “give or take.”
FRIDAY, 7:59am: The Cavs withdrew their five-year, $80MM offer to Tristan Thompson when his qualifying offer expired on October 1st, as Salary Cap FAQ author Larry Coon hears and writes within a Basketball Insiders chat. The sides were reportedly close to a deal for those terms on the first day of free agency in July, but instead they’ve been locked into a stalemate ever since, with Thompson’s camp apparently insistent on a max deal of either five years or three.
Mark Termini, as he usually is for Rich Paul’s Klutch Sports, has been Thompson’s lead negotiator, Coon also hears, and as Jeff Zillgitt of USA Today Sports detailed a couple of weeks ago, Termini and the Cavs both have a history with holdouts. Thompson remains a restricted free agent, but only the Trail Blazers have the cap flexibility to sign him to a max offer sheet, and aside from them, only the Sixers can come close. The last day for Thompson to accept an offer sheet would be March 1st, if he still remains unsigned at that point. Should his free agency linger into next summer, the Cavaliers would have the opportunity to make a new qualifying offer by June 30th to continue his restricted free agency.
It’s unclear what sort of offer, if any, the Cavs have on the table for Thompson at this point. Cleveland is dealing with several injuries as the regular season draws near, including the continued absences of Kyrie Irving and Kevin Love, who were hurt during the playoffs. Iman Shumpert is in line to miss roughly the first two months of the regular season because of a wrist injury that happened shortly before the start of training camp. The Cavs are a league-worst 0-5 in the preseason, though LeBron James has only appeared in two of those games as part of an effort to limit his minutes.
Where do you think the Cavs and Thompson will go from here? Leave a comment to give us your thoughts.