All-Star forward Love opts out of contract with Cavs
CLEVELAND — Kevin Love is about to find out how much the league values him and how much the Cavaliers want him.
The power forward opted out of the final year of his contract and will be a free agent on July 1, according to The Associated Press. Love, who had a deal worth $16.7 million next season, informed the Cavs on Wednesday.
Last week, general manager David Griffin said he expected Love and superstar LeBron James to opt out of their deals and become free agents. Griffin also expects them to resign with the Cavs, who made it to the NBA Finals.
ESPN was first to report Love’s decision.
The 26-year-old Love, who came to Cleveland last summer in a blockbuster trade from Minnesota, has said he wants to return to the Cavs.
Love will likely draw major interest in the free-agent market, and the Los Angeles Lakers and New York Knicks could be potential landing spots for the threetime All-Star. He must now decide if he’d rather go elsewhere and put up big numbers or stay in Cleveland to chase an NBA title with James.
The Cavs have discussed offering Love a maximum deal, but it is not clear if that is what Love and his representatives are seeking. He may prefer to sign another one-year deal and then become a free agent again next summer to take advantage of the expected jump in the salary cap because of the league’s new TV deal, which will kick in before the 2016-17 season.
DEVELOPMENTS
Ellis opts out: Monta Ellis is declining the player option for the final year of his contract with the Dallas Mavericks and will become an unrestricted free agent. The 29-year-old led Dallas at 18.9 points per game last season.
Blazers deal Batum to Hornets: The Associated Press reported the Charlotte Hornets have agreed to trade guard Gerald Henderson and power forward Noah Vonleh to Portland for small forward Nic Batum.
The 6-foot-8, 200-pound Batum spent the last seven seasons with Portland. He started 71 games in 201415, averaging 9.4 points, 5.9 rebounds and 4.8 assists.
Henderson is the longest-tenured player on Charlotte’s roster. Vonleh was the No. 9 overall pick in 2014.
Sale of Hawks approved: The NBA board of governors has unanimously approved the sale of the Atlanta Hawks to an ownership group led by billionaire Tony Ressler.
Along with the operating rights to Philips Arena, the Hawks were sold for $850 million. The NBA announced Wednesday’s sale closing.
Former NBA star Grant Hill is part of Ressler’s group, along with New York investor Rick Schnall, Spanx founder Sara Blakely and her husband Jesse Itzler, co-founder of Marquis Jet.