Matthew Dellavedova is returning to Cleveland. The 24-year-old restricted free agent has accepted the Cavaliers' qualifying offer of one year and $1.2 million, according to ESPN's Dave McMenamin.
It was reported in late June that Dellavedova and the Cavaliers were progressing in negotiations on a new multi-million deal. Dellavedova, who was signed by the Cavaliers in 2013 after going undrafted, will again be a restricted free agent next offseason due to having just three years of NBA service. The Cavaliers are already scheduled to spend nearly $250 million in salary and luxury tax payments this season. As a result, inking Dellavedova to a larger deal became an unrealistic proposition.
After two relatively quiet seasons in Cleveland, Dellavedova made a name for himself during the NBA Finals when he helped contain league MVP Stephen Curry in Games 1-3. Dellavedova also scored 20 points in Game 3 and helped the Cavaliers take a 2-1 series lead.
In the games following that, though, he ran out of steam and looked more like the player who averaged 4.8 points and three assists in just under 21 minutes per game during the regular season.
Still, in two years in the league, Dellavedova has proven himself to be a tough and willing defender. He's also connected on 39 percent of his three-point attempts in his career. Whether he can handle the ball well enough to serve as a full-time backup point guard remains to be seen.
Note: this story was updated on July 28 to reflect Dellavedova's 2016 free agent status.