Let’s make this as simple as possible.
Kyrie Irving has been playing on his rookie deal since being taken No. 1 overall back in 2011. At the time, he signed a four-year $23.2 million dollar deal. Irving is entering the last year of that deal.
The Cavaliers are going to offer Irving an early extension of five years and in the neighborhood of $90 million. On Monday, Chris Broussard tweeted that the Cavs were flying to New Jersey in order to meet with Irving on the first day that they can offer the deal, July 1.
Sources: Cavaliers flying to NJ today to offer @KyrieIrving max deal (5 yrs, $90 million) on July 1
— Chris Broussard (@Chris_Broussard) June 30, 2014
There had been speculation that the Cavs may not offer Irving the max, and of course even more that Irving will not be willing to accept the Cavaliers’ offer.
Irving would become a restricted free agent should he decide to play out his existing deal, meaning the Cavs would have the ability to match any deal offered to Kyrie after the 2014-2015 season.
For a more detailed look at the ramifications of Kyrie’s deal, check out Joe’s piece at WFNY back in late January.