The Cleveland Cavaliers announced today that they have signed the two rookies drafted in the recent NBA Draft. It was a mere formality, but both Dion Waiters and Tyler Zeller have been officially inked as members of the Cavaliers. The Cavs official website issued a release announcing the signings, but the financial details aren't available.
The Cleveland Cavaliers have signed 2012 NBA Draft picks, guard Dion Waiters (Syracuse) and forward/center Tyler Zeller (North Carolina), to contracts, Cavaliers General Manager Chris Grant announced today from Cleveland Clinic Courts. Per league and team policy, terms of the contract were not announced.
We may need to double check this, but I believe Waiters will make around $3.1 million this year while Zeller will make around $1.4 million. Both deals are presumably standard first round contracts with two years fully guaranteed and team options in the 3rd and 4th years.
Perhaps the most important part of all this is that the NBA is now allowed to sell merchandise with their names on it, so you'll be able to purchase a Waiters or Zeller jersey relatively soon.