Cavaliers Signing Osman to Four-Year Contract Extension
The Cavaliers have given Cedi Osman some serious security, as the third-year small forward has agreed to a four-year contract extension worth $30.8 million, agents Jeff Schwartz and Jordan Gertler told Marc Stein of The New York Times.
The fourth year of the deal is non-guaranteed, a source told SI.com.
Osman, 24, is 6-foot-7 and in his third season, and second straight as a starter. He averaged 13.5 points, 4.7 rebounds and 2.6 assists last year, but shot just 43 percent from the field.
He scored 13 points on 5-of-9 shooting in the season-opening loss to the Orlando Magic on Wednesday.
Cavs general manager Koby Altman had the option of waiting to sign Osman to a $3.6 million qualifying offer -- but decided an extension would be a safer route to keeping Osman long term.
Osman was drafted in the second round (No. 31 overall) by the Minnesota Timberwolves in 2015. His rights were acquired by the Cavs later that night (for the rights to point guard Tyus Jones).
Osman spent two more years playing professionally in Turkey before joining the Cavs in 2017. He took part in summer workouts with superstar forwards LeBron James, Kawhi Leonard and Kevin Durant following his rookie season.
Osman is making $2.9 million this season, the final year of his rookie deal.
The extension reportedly will start at $8.6 million and then decrease each season. It will cost the Cavs $3.1 million in salary-cap flexibility in 2020-21.