Source: Thompson Did Not Sign Cavs’ Offer by Deadline

Tristan Thompson let a midnight deadline pass without signing the Cavaliers’ one-year qualifying offer. He remains a free agent and will be considered a holdout if he’s not on the practice floor Friday in what has been a three-month standoff with no end in sight.

Thompson had until 11:59 p.m. Thursday night to accept the qualifying offer, worth about $7 million. Once source with knowledge of the situation said Thompson did not sign the offer and remains a restricted free agent. The team had the right to extend the Oct. 1 deadline for the qualifying offer, but declined to do so.

Source: Jason Lloyd of the Akron Beacon Journal