More Varejao Drama: No 1 year deal

This morning, reports were out that the Cavaliers and Anderson Varejao are close to signing a one year deal worth $5 million according to SI.com sources.

Later today, a new report by SI.com that the Cavs apparently have no interest in signing Varejao for one year.

“The team told the player’s agent if the qualifying offer passed, they would not entertain a one-year deal,” the source said Tuesday. “They were told at the time, if we can’t get a deal done by the [time the qualifying offer expired], the team would not do a one-year deal.”

By signing Varejao to a one-year deal now, he would have the right to walk away as an unrestricted free agent next summer and they would lose the ability to trade him this season.

In Cleveland’s view, there is simply no reason to go the one-year route. The Cavs hold the leverage. Varejao could go to Europe, but he would still be a restricted free agent upon his return. If he sits out, the Cavs keep open the possibility of a sign-and-trade.