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Report: Cavs, Varejao near extension

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The Cleveland Cavaliers and center Anderson Varejao are close to agreeing on a contract extension, ESPN.com reported Thursday.

The deal would be for three years at an estimated $30 million starting with the 2015-16 season. The Brazilian native is in the final year of a six-year, $42.5 million contract. He is making $9.7 million this season.

Earlier this week, the Cavs announced that Varejao would start Thursday night’s opening game against the New York Knicks ahead of Tristan Thompson, who also could get a contract extension before Friday’s deadline for first-round picks in the 2011 NBA Draft.

The 32-year-old Varejao has spent his entire career with the Cavs and was a teammate of LeBron James before James left for Miami. Last season, Varejao played in 65 games and averaged 8.4 points and 9.7 rebounds.

Up to the minute news and reports from the news wire of The Sports Xchange.

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