Cleveland released the veteran shooting guard before his $15.6 million contract for next season became guaranteed. This is after the team was unable to find the right deal even after he agreed to extend his guarantee date. The Cavs had been trying to move Smith for months to no avail.
This move will open salary-cap space and will move under the luxury tax threshold for the Cavs next season.
Smith will be a free agent and can sign anywhere once he clears waivers.
As per the veteran shooting guard, his whole career has always been in limbo and expressed little concern about it.
Smith’s release ends an interesting run with the Cleveland, who acquired him in a trade from the NY Knicks way back in 2015.
One of the NBA’s most accurate 3-point shooters, Smith played an important part in the 2016 championship run, a first title for the city and ending Cleveland’s 52-year sport curse.