Kay Felder’s deal is for three-years, $2.4 million

Now that Kay Felder has officially signed a deal with the Cleveland Cavaliers, details about his contract have emerged.

Per ESPN’s Brian Windhorst, Felder’s deal is for three years and worth a total of $2.4 million. Most interestingly, only $1 million of the deal is guaranteed.

From Windhorst:

Cavs signed 2nd round pick Kay Felder to 3-year deal worth $2.4M, $1M is guaranteed. Used part of taxpayer mid-level to do deal.

The low guarantee on Felder’s deal isn’t uncommon for second round picks and it means that if the Cavs want to get rid of him at some point, it won’t be hard for them to do so. It’s also worth noting that Felder fits on the roster under part of the taxpayer midlevel, which they also used to re-sign Richard Jefferson.

The overall potential value of Felder’s contract also is about what the team paid the Hawks to get the second round pick they used to nab Felder.

With Felder now signed, the Cavs still have to finish negotiations with LeBron James and J.R. Smith.