The Cavaliers waived McCaw on January 6, making him an unrestricted free agent once he cleared waivers.
Now, according to Yahoo's Shams Charania, McCaw will sign a one-year contract with Toronto for the veteran's minimum of $786,000. After passing on the Golden State Warriors' qualifying offer this summer, McCaw found it hard to find another offer. McCaw, 23, was an early-season holdout following two years with the Golden State Warriors. It was the end of a freaky saga that involved a half-season holdout, an offer sheet, a surprising release, and an ongoing investigation by the National Basketball Association into how it all went down.
McCaw cleared waivers on Wednesday afternoon, sources said. He reportedly turned down a two-year, $5 million deal from the team along with its $1.71 million qualifying offer.
McCaw averaged 1.7 points and one rebound in three games with Cleveland this season before his release.
Suspicions immediately arose around Cleveland's motivation behind signing a player from the team that beat them in three of four NBA Finals, then releasing him nearly immediately. McKinnie played in 14 games for Toronto last season, and his Warriors contract became guaranteed Monday.
The New York Times reported that the National Basketball Association is investigating the Cavaliers for possible salary-cap circumvention, a probe that Golden State encouraged the league to undertake on the Warriors' behalf. But McCaw lasted less than 10 days with the Cavs.
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