Cavs, Anderson Varejao close to 3-year, $30M deal

The Cleveland Cavaliers are nearing agreement on a contract extension with long-serving big man Anderson Varejao, according to league sources.

Sources said the Cavaliers and Varejao are closing in on a new three-year deal worth an estimated $30 million that would kick in starting with the 2015-16 season.

Varejao has spent his entire NBA career with the Cavaliers after Cleveland acquired his rights on draft night in 2004.