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The Cleveland Cavaliers have also waived guard/forward Demetris Nichols. He played in three games for Cleveland and scored two points and grabbed one rebound in 14 minutes.
Verejao might join the team in by end of week.
“It’s good. I’m happy. I’m going to be back playing basketball,” Varejao said after signing the offer.
“I am grateful to the Bobcats for signing me to the deal I wanted,” he said, “but the rules … I was restricted. … But I’m happy to be in Cleveland.”
“I love the fans in Cleveland,” he said Wednesday. “I just was sad and upset with everything. It was negotiations. I’m looking forward to being back there and playing like always.”
Varejao said he had not yet heard from LeBron James since getting his new deal, “I spoke with him a couple times during the process,” Varejao said. “He totally understands. He’s always supported me and I appreciated that. I want to thank him for that.
Varejao said he had already heard from Cavs teammates Sasha Pavlovic and Zydrunas Ilgauskas. Varejao doesn’t think he would need to mend fences with teammates over comments he made last week that he was worth more than some other Cavs players.