UPDATE:
Here are the specifics on Smith's new deal:
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After initially opting out of a contract that would have paid him more money, J.R. Smith announced tonight that he'll be returning to the Cleveland Cavaliers anyway. Smith's deal was originally set to pay him $6.4 million, but in search of a longer term contract Smith took the route of free agency.
Smith posted the following quote on his Instagram account regarding his decision:
Last year with Cleveland, after coming over via trade from the Knicks, Smith posted averages of 12.7 points, 3.5 rebounds, 2.5 assists and 1.4 steals per night in the regular season. Afterward he went on to average 12.8 points and 4.7 boards in the postseason.
[via Instagram]
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