Cavaliers to sign Turkish small forward Cedi Osman
The Cleveland Cavaliers have agreed to terms with 2015 second-round pick Cedi Osman on a three-year, $8.3 million deal, sources told ESPN.
The Cavs picked Osman, 22, with the 31st pick after a trade with the Minnesota Timberwolves. He is a 6-foot-8 forward known for his defense, and the Cavs hope he can add some youth and energy to their bench.
Osman averaged 7.1 points and shot 34 percent on 3-pointers for Turkish club Anadolu Efes in Euroleague games last season.
The team used roughly half of its taxpayer midlevel exception of $5.2 million to execute the deal. The Cavs have made four signings this offseason -- Kyle Korver, Jeff Green, Jose Calderon and now Osman -- and have continued to spend deep into the tax. Signing Osman will effectively cost the team about $15 million when including the tax.
Their projected tax for next year is now $70.7 million, on pace to be the highest payroll including tax in league history, although they may make moves to reduce that number over the next 11 months.
As part of the deal, the team is giving Osman $675,000 toward his buyout with Anadolu Efes. The buyout was reported to be €1 million, but sometimes buyouts can be negotiated. It makes the total value of the contract $9 million. Teams don't have to pay luxury taxes on money provided for European buyouts.
Osman was with the Cavs in Las Vegas over the past week but didn't take part in summer league. He is planning to play for the Turkish national team this summer.
Eurohoops.net first reported Osman had agreed to come to the NBA and sign with the Cavs.
Source: http://www.espn.com/nba/story/_/id/19971873/cleveland-cavaliers-sign-turkish-player-cedi-osman
The Cavs picked Osman, 22, with the 31st pick after a trade with the Minnesota Timberwolves. He is a 6-foot-8 forward known for his defense, and the Cavs hope he can add some youth and energy to their bench.
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| Cedi Osman has been playing in Turkey but now gets to a chance alongside LeBron James. Aykut Akici/EB/Getty Images |
The team used roughly half of its taxpayer midlevel exception of $5.2 million to execute the deal. The Cavs have made four signings this offseason -- Kyle Korver, Jeff Green, Jose Calderon and now Osman -- and have continued to spend deep into the tax. Signing Osman will effectively cost the team about $15 million when including the tax.
Their projected tax for next year is now $70.7 million, on pace to be the highest payroll including tax in league history, although they may make moves to reduce that number over the next 11 months.
As part of the deal, the team is giving Osman $675,000 toward his buyout with Anadolu Efes. The buyout was reported to be €1 million, but sometimes buyouts can be negotiated. It makes the total value of the contract $9 million. Teams don't have to pay luxury taxes on money provided for European buyouts.
Osman was with the Cavs in Las Vegas over the past week but didn't take part in summer league. He is planning to play for the Turkish national team this summer.
Eurohoops.net first reported Osman had agreed to come to the NBA and sign with the Cavs.
Source: http://www.espn.com/nba/story/_/id/19971873/cleveland-cavaliers-sign-turkish-player-cedi-osman
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