Report: Iman Shumpert signs four year deal worth $40 million to stay in Cleveland

Iman Shumpert, like teammates Kevin Love and Tristan Thompson, will be a Cleveland Cavalier next season and will make a bit more money in the process.

Shumpert has reportedly signed a four-year, $40 million dollar deal with the Cavs in lieu of pursuing a deal as a restricted free agent. The last year of the deal is a player option. Alex Kennedy of Basketball Insiders was the first to report Shumpert's new deal and Adrian Wojnarowski of Yahoo Sports reported the news soon after. Shumpert also hinted at his new deal with an Instagram post. The Los Angeles Lakers, Dallas Mavericks and Milwaukee Bucks were other teams reportedly interested in Shumpert.

The Cavs acquired Shumpert in a mid-season trade with the New York Knicks along with J.R. Smith. His debut was delayed due a shoulder injury, but after getting healthy, Shumpert became an integral part of the Cavs mostly due to his defense. With the Cavs, Shumpert averaged 7.2 points while shooting 41 percent from the field and 33.8 percent from deep.

Shumpert's deal caps off an active day for the Cavs. First, ESPN reported that Thompson was set to sign a deal worth more than $80 million. Moments later, Love announced via The Player's Tribune that he was returning to Cleveland and soon after it was reported that Love will sign a five-year deal worth $110 million. Overall, the Cavs have given out roughly $230 million in new contacts today alone.

The Cavs aren't done yet either. LeBron James has yet to sign a new deal after opting out and it remains to be seen when, if at all, the Cavs will come to terms with Smith and/or Matthew Dellavedova.