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Free agent point guard Jose Calderon has signed with the Cleveland Cavaliers, according to Calderon’s representatives.
Calderon, 35, most recently spent time with the Atlanta Hawks. His signing signifies the end of the disappointing Deron Williams era in Cleveland — as barring any further moves related to point guards, Calderon will back up All-Star Kyrie Irving.
Williams is an unrestricted free agent and said to be drawing interest from the Charlotte Hornets and Denver Nuggets, but not the Cavs.
Calderon is represented by Priority Sports and his deal is for one year and $1.6 million. He becomes the first free-agent transaction for the defending Eastern Conference champions, who appear to be nearing a trade involving reserve guard Iman Shumpert.
Calderon averaged career-lows with 3.4 points and 2.2 assists in 41 combined games with the Hawks and Los Angeles Lakers last season.
Per ESPN, the Calderon signing “shows the financial restrictions of the repeater tax. Cleveland had a $16.4M tax penalty before the Calderon $1.5M cap hit. With the Calderon signing the Cavaliers tax bill now jumps to $20.4M.”