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Report: Matthew Dellavedova signs one-year deal to remain with Cleveland Cavaliers

There will be at least one more season of Delly treys in Cleveland.

Kyle Terada-USA TODAY Sports

UPDATED: According to ESPN's Dave McMenamin, the Cleveland Cavaliers will retain Matthew Dellavedova for one more season at $1.2 million. The 24-year-old Aussie spent his first two seasons with the Cavs after going undrafted out of St. Mary's. This summer, he was a restricted free agent, and he has apparently decided to accept the qualifying offer and return for a third season.

Dellavedova will look to get the big bucks next summer, although the Cavs will still have some control over what happens to him, as they can make him a restricted free agent once again.

For the Cavs, this is a fair price to pay for a guy who will probably continue to find a place in the rotation because of his perimeter defense.

Last season, Dellavedova played in 67 games and hit 40.7 percent of his threes. When Kyrie Irving went down in Game 1 of the NBA Finals, Dellavedova was thrust into a starting role for the next five games against the Warriors. He was lauded by some for his defensive effort against Stephen Curry, especially as the Cavs took a 2-1 lead in the series.

With the addition of Mo Williams this offseason, Dellavedova will no longer have to fill the role of primary backup point guard. Now, he should be able to fit in as a utility piece near the end of David Blatt's rotation.