3:36pm: The Cavaliers have officially signed Perrantes to a two-way contract, the team announced today in a press release.
1:22pm: The Cavaliers are in the midst of finalizing an agreement on a two-way contract with free agent guard London Perrantes, reports Shams Charania of The Vertical (Twitter link). Once the deal becomes official, Perrantes would join John Holland as the two-way players under contract with Cleveland.
Perrantes, a 6’2″ point guard, averaged 12.7 PPG, 3.8 APG, and 3.0 RPG in his senior year at Virginia last season, along with a solid shooting line of .453/.374/.813. His performance earned him a look from the Heat in Summer League action this year, and a training camp invite from the Spurs.
San Antonio waived Perrantes last week during the roster cutdown period, and he initially appeared to be a good bet to land in Austin as an affiliate player for the Spurs’ G League team. However, a two-way deal with the Cavs will give the rookie a little more financial security. He’ll join the Canton Charge rather than the Austin Spurs once the G League season gets underway.
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Once Perrantes finalizes his deal with the Cavs, only the Hawks, Rockets, Bucks, Timberwolves, Knicks, and Trail Blazers will still have open two-way slots. Our full list of two-way players can be found right here.