WEDNESDAY, 9:52am: The deal is official, the team announced.
SATURDAY, 3:21pm: Holt had cut ties to Ludwigsburg and had been receiving interest from some Euroleague teams, Pick tweets.
3:11pm: The Cavs and guard Stephen Holt have reached an agreement on a training camp deal, David Pick of Eurobasket reports (Twitter link). Terms of the deal were not disclosed, but it’s likely a standard minimum salary arrangement with little or no guaranteed money included. This would bring the Cavs preseason roster count to 16 players, with 11 fully guaranteed and two partially guaranteed deals included in that number. Holt had reportedly turned down a training camp invite from the Hawks to sign with a German team, so it’s unclear if he reached a buyout arrangement or was let go by that team if the signing occurred.
The Cavs have been busy today, trading the recently acquired Keith Bogans to the Sixers in addition to completing their first training camp practice. Cleveland is still setting their training camp roster, and Holt will compete for the final roster spot, though he’s an extreme longshot to make it to opening night. The other roster wildcard involved is Ray Allen, who the Cavs have pursued despite Allen being non-committal on returning for another season. His signing would change a number of roster plans.
The 6’4″, 23 year-old Holt went undrafted out of Saint Mary’s back in 2012, after averaging 10.8 PPG, 4.2 RPG, and 2.4 APG for his career. His shooting numbers were .443/.381/.808.