Smith, 29, opted out of the final year of the three-year deal he had signed with the
But more than a month later, Smith is reportedly re-signing with the Cavaliers on a two-year contract that will pay him $5 million this season.
"When I opted out of my contract, I wanted to understand the landscape of the NBA and where I fit best," Smith wrote on Instagram. "The Cavaliers had things they needed to do in order to piece together a championship caliber roster. I ended up deciding that instead of potentially securing a larger deal elsewhere, I wanted to rejoin an incredible organization in pursuit of the ultimate goal, an NBA championship."
Smith does have a player option for the second year, which would allow him to become a free agent once again, with a possibly better result as the
"That's always part of the gamble of opting out," Smith said in late July, according to Cleveland.com.
The Cavaliers gambled on Smith in January when they acquired the gunslinger with a reputation for bad decisions off the court with guard
Smith averaged 12.7 points while shooting 39% from behind the three-point arc over 46 regular season games for the Cavaliers. However, he earned a two-game suspension for elbowing the
In six games against the