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NBA Free Agency: Cavaliers officially announce re-signing of Kyle Korver

The veteran sharpshooter is back on a fair deal.

NBA: Denver Nuggets at Cleveland Cavaliers Ken Blaze-USA TODAY Sports

The Cleveland Cavaliers have made their re-signing of Kyle Korver official. In a press release sent out Wednesday night, Korver’s return was confirmed by the team. He was originally linked back to the team on July 2.

The Cavs gave up a first round pick to acquire Korver and they are too limited financially to replace him, so bringing him back makes sense. And while he did not impact in the Finals, he was overall a productive player with the Cavs. In the first three rounds of the playoffs, teams faceguarded him in an effort to take away any of his shot attempts.

With the Cavs, he averaged 10.7 points per game while shooting 48.5 percent from three. For the year, he shot 45.1 percent from distance — the best mark in the NBA. It was the fourth time he’s lead the league in three-point percentage.

The financial terms of Korver’s deal were not disclosed by the team, but his deal is reportedly for three-years and $22 million. The last year of the deal, when Korver would turn 39 midway though, is partial guaranteed. It’s a good financial deal for the Cavs, as it’s also tradable if Cleveland did need to blow it all up. Korver is also a good mentor the newly signed Cedi Osman.