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Report: Cavaliers re-signing Richard Jefferson to two-year, $5 million contract

2016 NBA Finals - Game Seven

OAKLAND, CA - JUNE 19: Richard Jefferson #24 of the Cleveland Cavaliers celebrates after defeating the Golden State Warriors 93-89 in Game 7 to win the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)

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As he celebrated the Cavaliers’ championship, Richard Jefferson said he was retiring.

About that..

Chris Mannix of Yahoo Sports:

The Cavaliers can pay Jefferson $3,807,771 through the Non-Bird exception or $4,505,135 through the bi-annual exception. So, unless there’s some rounding here, the Cavs dipped into their mid-level exception -- especially likely since the bi-annual would trigger a hard cap.

Jefferson played well for Cleveland, especially in the playoffs. At age 36, his production could drop at any moment. But the Cavs just traded for another forward, Mike Dunleavy. Those aging veterans can split the burden as they back up LeBron James.

Nothing will force Jefferson to play both years of this deal, but he might. He seems eager for another run.