Sports / ArcaMax

Cavaliers nearing three-year, $30 million extension with Anderson Varejao

CLEVELAND, Ohio -- Anderson Varejao and the Cavaliers are closing in on a three-year extension worth about $30 million, a league source with knowledge of the talks confirmed to the Beacon Journal. The deal should be announced within the next few days. Varejao is earning $9.7 million in the final year of a six-year, $48 million deal he signed in 2009. Varejao could've been an unrestricted free agent next summer, but both sides moved quickly to complete an extension. Tristan Thompson is also in the final year of his rookie deal and the two sides have until midnight Friday to agree to an extension, otherwise Thompson becomes a restricted free agent next summer and the Cavs will have the ...

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