MONDAY, 6:07pm: The team officially announced the signing via press release.
SUNDAY, 8:32pm: The Warriors have signed Anderson Varejao, according to Shams Charania of The Vertical on Yahoo Sports (Twitter link). The team has yet to make an official announcement, but Charania indicates the two sides have reached an agreement. Varejao signed at the veteran’s minimum for the rest of the season, Marc J. Spears of Yahoo Sports tweets.
Marc Stein of ESPN.com first reported earlier today that Golden State was the front-runner to sign Varejao, with the Spurs also reportedly having had mutual interest. The minimum salary for Varejao will be prorated. So, if he were to officially sign Monday on a deal that covers only the rest of the season, he would receive $458,575, with $289,755 coming from the Warriors and the NBA picking up the rest. Golden State, which is between $10MM and $15MM above the luxury tax threshold, would be in line to pay an additional $724,388 in taxes for the Varejao deal, making the total cost, in combined payroll and taxes, a projected $1,014,143. That number would go down slightly each day the Warriors wait to formally make the signing.
Golden State is currently carrying 15 players on its roster with each contract being fully guaranteed, so a subsequent move will be needed. The Warriors have a need in the frontcourt with Festus Ezeli still out because of arthroscopic knee surgery and Andrew Bogut nursing an Achilles injury.
The Blazers waived the 33-year-old Varejao after acquiring him from the Cavs in a deadline-day trade. He told Chris Haynes of the Northeast Ohio Media Group and Cleveland Plain Dealer that he has no hard feelings toward the Cavs and is excited to join the Warriors (Twitter link). Varejao, who has never played for any other team aside from the Cavs, is averaging 2.6 points and 2.9 rebounds per game.