Jose Calderon, Cleveland Cavaliers Agree to Terms on Contract

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While that won't stop teams from pursuing him, they will have to understand that he will most likely be a one-year rental if they acquire him. In 41 total appearances, including 13 starts, the Spaniard averaged 3.4 points and 2.1 assists per game on 41.0 percent shooting from the field, including 31.3 percent from three. He will be a priority for the Cavs as they look to retain the sharpshooter.

A 12-year veteran, Calderon will be 36 when next season opens. With LeBron James in town and being in the Eastern Conference, it keeps Korver in contention for that ever elusive first National Basketball Association title.

A person familiar with the decision says the Cleveland Cavaliers will extend a contract offer to free agent forward Kyle Korver. "I've never seen anyone support their team as well - and as loudly - as Cavaliers fans". Korver is one of the best catch and shoot three point shooters in this league. He appeared in all 18 playoff games during the Cavaliers' third straight trip to the NBA Finals, shooting.391 beyond the arc while averaging 5.8 points.

Shumpert is now playing under a four-year, $40 million deal.

The big move for the Cleveland Cavaliers in this trade will be to free up money to chase someone who can help LeBron James try to rebound from their NBA Finals collapse and compete for the NBA Championship next season. The NBA salary cap is estimated at $99 million, while the luxury tax threshold is projected to be $119 million.

The Cleveland Cavaliers have agreed to a contract with free-agent point guard Jose Calderon, his agency announced Saturday.

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