The NBA Free Agency period started on July 1st, but nobody was allowed to officially sign a contract until the moratorium period ended. The moratorium was lifted at 12:01 AM Eastern on July 10th and that's when any acquisitions could become official. We already knew that this was coming, but now the signings are official: the Cavaliers have acquired Jarrett Jack and Earl Clark.
There is a press conference starting around 11 am eastern to introduce the new Cavaliers. There will likely be a live feed of the press conference on Cavs.com. Unfortunately, Andrew Bynum will not be formally introduced with Jack and Clark.
UPDATE: Here is the link to watch the press conference live: http://www.nba.com/cavaliers/tv/live
Jarrett Jack signed a 4 year contract worth around $25 million. The last season is a team option. Earl Clark signed a 2 year contract worth around $9 million. Similar to Jack's deal, the Cavs have a team option on the final year in Clark's contract. Both of these deals allow the Cavs to add valuable talent to their current roster while maintaining future financial flexibility.
We already broke down our analysis of these two signings, so make sure you check those out.
More from Fear The Sword:
- Fear The Sword Podcast: Episode 09 - Talking Cavs draft and free agency
- NBA Free Agency: Dallas Mavericks and Wayne Ellington agree to 2 year, $5 million deal
- NBA Free Agency: Reports: No Andrew Bynum decision coming tonight, will meet with Mavericks tomorrow
- Cleveland Cavaliers announce Summer League roster
- Cleveland Cavaliers announce preseason schedule