According to Chris Broussard of ESPN, the Cavaliers are going to be busy right off the bat when free agency kicks off tomorrow:
Sources: Cavaliers flying to NJ today to offer @KyrieIrving max deal (5 yrs, $90 million) on July 1— Chris Broussard (@Chris_Broussard) June 30, 2014
Now, Kyrie Irving isn't a free agent. The Cavaliers have him under contract for at least two more years. They can offer him a maximum contract extension starting tomorrow though, and it seems the team isn't going to waste any time. I like what this says to Irving. He's their top priority.
While we don't know exactly what Irving's intentions are, it is exceedingly unlikely that he would turn down the guaranteed money. There is a chance that he would want opt outs instead of committing to a full five years. He will also probably want Rose rule language that would bump up his eligible salary to 30% of the salary cap should he start in the All-Star game again next season.
So there are things to negotiate, perhaps. Last season the Indiana Pacers didn't complete a max extension with Paul George until September, and suffered through rumors of him going to the Lakers for much of the summer.
In other words, patience is important. But there is a nice little nugget from Sam Amico of Fox Sports:
Cavs flying to New Jersey to offer Kyrie Irving max contract extension when free agency opens, ESPN reports. It's believed Irving will sign.— Sam Amico (@SamAmicoFSO) June 30, 2014
Also, keep in mind that Kyrie's possible extension won't kick in until the 2015-16 season. He is slated to make about $7.07 million next year regardless.