Cavs re-sign Dellavedova with 1-year qualifying offer

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Playoff breakout sensation Matthew Dellavedova is returning to the Cleveland Cavaliers.

The Cavaliers officially announced the move on Monday. Terms of the deal were not released, but he's set to sign his one-year, $1.2-million qualifying offer, according to ESPN's Dave McMenamin.

The deal is a far cry from Dellavedova's reported demand for a $4-million per year contract, but that was an unrealistic number, anyway.

The signing makes sense for both sides. Cleveland brought Mo Williams in to supplant Dellavedova as the backup point guard, but "Delly" still provides a pesky defensive presence to serve as insurance. The deal also makes sense for Dellavedova, who can re-enter restricted free agency next summer with the salary cap projected to rise to $90 million.

Staying put in Cleveland also gives Dellavedova the security to play with the Australian national team in their upcoming Oceania Olympic qualifier.

Dellavedova became a sensation last season after filling in for injured starter Kyrie Irving, providing surprisingly effective defense on Stephen Curry, and chipping in with an improbable 20-point performance in Game 3 of the NBA Finals.

Of course, Curry eventually solved Dellavedova as the series went on to help the Golden State Warriors capture the title.

Still, Dellavedova's star rose on the biggest stage, which earned him arena-naming honors and a host of new fans buying his jersey.

The 24-year-old Dellavedova averaged 4.8 points and three assists in 20.6 minutes last season and shot 36.2 percent from the floor, while connecting on roughly one percent of his infamously-wild alley-oop tosses.