J.R. Smith chose to decline his player option after the season ended with the intention on signing a long-term deal with the Cleveland Cavs. However, according to Terry Pluto of Cleveland.com, the Cavs are not offering him a multi-year contract, but a one-year deal worth less than what his player option was worth:
"The hard part for Smith is he knows he should have picked up the player option for $6.4 million for 2015-16. When he passed and became a free agent, he really believed a multi-year offer for more money was coming his way. It didn't happen.
"The Cavs have made him an offer. I hear it's less than $6.4 million that he turned down. They know Smith is not thrilled with a lesser deal. But right now, he has no leverage, and a one-year contract puts him in position to cash in next summer when the salary cap rises 30 percent.
"Smith may continue to wait. But right now, it seems Cleveland is his only option."
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