MONDAY, 2:48pm: The Cavs and Gee aren't "especially close" to finalizing anything, a source tells Amico (Sulia link). It still appears as if Gee will return to Cleveland, but a deal may not be signed until closer to the start of training camp.
The news was first reported by John Telich of FOX Sports 8 (via Twitter). Telich adds that discussions between the Cavs and Gee are ongoing in regards to how much money will be guaranteed. There is also a possibility that the contract will include a team option for a fourth year.
Gee, 25, averaged 10.6 PPG with 5.1 RPG in 29 minutes per contest last season for Cleveland.