J.R. Smith and the Cavs finally agreed to a new long-term contract

There was never really any doubt that J.R. Smith would come back to the Cleveland Cavaliers for the 2016-17 season, but the unrestricted free agent’s continued lack of a contract still had the potential to create issues for the NBA’s defending champions. Never fear, though, because the mercurial wing will be in uniform to accept his title ring at Quicken Loans Arena on October 25.

Smith and the Cavaliers have agreed to terms on a four-year, $57-million deal that will keep him under contract in Cleveland for the bulk of his remaining career. ESPN’s Marc Stein was the first to report the news on Twitter, including that the deal is guaranteed for $45 million over the first three years. As clarified by Jon Krawcynski of the Associated Press, the $57 million figure will come to Smith if he plays four full seasons.

Although Smith always seemed destined to come back to Cleveland, negotiations stretched out well past the opening weeks of free agency in July as player and team could not reach an agreement. According to Stein, the deal got done Friday because another franchise made a push to sign Smith:

ESPN sources say a hard push from Sixers GM Bryan Colangelo for J.R. Smith helped sparked Friday's talks with the Cavs to get a deal done

— Marc Stein (@ESPNSteinLine) October 15, 2016

It’s a big drop from overwhelming Eastern Conference favorite to likely league doormat. It’s not clear how seriously Smith considered the Sixers, but their interest was apparently enough to bring the two sides together on a long-term deal.

Smith and his family professed their excitement in a video shortly after the news broke. They also announced that Smith’s wife Jewel is pregnant with their second child:

.@TheRealJRSmith and family are beyond thrilled to be back with the @cavs but also have some other BIG news to share. pic.twitter.com/NvC9bXjtTt

— UNINTERRUPTED (@uninterrupted) October 15, 2016

Congratulations to the Smiths on both bits of news. After bouncing around several teams and gaining a reputation as an unserious malcontent, Smith has found a home with the Cavs and noticeably matured as a professional and person. He spoke about his journey in his press conference following the Cavs’ Game 7 victory over the Golden State Warriors last June with a depth of feeling that few players have ever matched. It remains one of the most affecting moments of what will be remembered as an especially emotional championship celebration.

It figures that Smith’s teammate LeBron James will also be pretty happy about this news. Two weeks ago, LeBron implored the team to get a deal done with J.R. and expressed disappointment that his team has been without a major piece of the puzzlie for the second training camp in a row. While Tristan Thompson’s extended holdout last year did not derail the Cavs on their quest for a title, the frustration was understandable. Thankfully, Smith got the deal done seven days before Thompson did in 2015 and will soon join back up with his teammates. It shouldn’t take much adjustment — Smith, James, and others were spotted together at a Cleveland Indians playoff game last week.

Smith’s deal will cost the Cavaliers and owner Dan Gilbert much more than his reported $15 million salary in 2016-17. The Cavs were already over the luxury tax threshold and will now have to pay the especially punitive repeater tax. The exact cost will not yet be known, but the franchise’s luxury tax could be more than $40 million for this season alone.

Gilbert is likely comfortable footing the bill. The Cavs have not been shy about adding and extending players since LeBron returned to the team two summers ago. Keeping a generation-defining superstar happy and surrounded by championship-winning teammates is simply the cost of doing business. The Cavaliers’ first-ever championship carried a hefty cost, but we’re guessing everyone involved considers it a worthwhile price.