5:53pm: The team has followed with an official announcement.
AUGUST 5TH, 5:32pm: The team still hasn’t made a formal announcement, but the signing has taken place, according to Pincus (Twitter link). It’s for two years and $5.6MM and it includes a 15% trade kicker, according to Pincus, who confirms that it indeed features a player option for the final season.
JULY 15TH: Mike Miller has agreed to join the Cavs on a two-year deal with a player option for the final season, reports Chris Broussard of ESPN.com (Twitter link). It’s for a total of $5.5MM, according to Adrian Wojnarowski of Yahoo! Sports (on Twitter), though Broussard says the Nuggets and Rockets offered more. Miller had been torn between Denver and Cleveland, as Wojnarowski reported earlier this afternoon (Twitter link). The Cavs are likely using their room exception on the sharpshooting swingman, tweets Eric Pincus of Basketball Insiders.
The Arn Tellem client was reportedly near a deal with the Nuggets when LeBron James decided to return to the Cavaliers, which allowed Miller a chance to play with James again. Miller was ineligible to sign with the Heat, since his previous contract with Miami, which the Heat amnestied, ran through next season. James had apparently reached out to Miller to see if he would be interested in joining him were he to leave the Heat this summer.
The Grizzlies, Clippers, Thunder, Blazers and Mavs were other teams reportedly interested in the 34-year-old, who showed this past season that his body is still capable of handling the rigors of the NBA. He played in all 82 games for the first time since he was a rookie, giving Memphis a valuable shooter in reserve. His 45.9% accuracy from behind the arc was the second-best mark of his career.
Miller’s camp appeared to try to ward off the possibility that the Cavs would claim him off amnesty waivers last summer by advancing talk about back surgery, but now Miller is willingly taking a discount to go to Cleveland, in a twist of events.