Report: Cavs, Tristan Thompson closing in on 5-year, $80M deal

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Rich Paul's big gamble paid off.

The Cleveland Cavaliers and Tristan Thompson are nearing an agreement on a five-year deal worth more than $80 million, according to Marc Stein of ESPN.

Thompson and his agent, Paul of Klutch Sports Group, turned down a four-year, $52-million extension back in October, a decision that was derided by many at the time. One season later, with the Cavs having come up short of an NBA championship and LeBron James taking a wait-and-see approach with his free agency, Thompson looks to have made a savvy gambit.

James and Thompson share an agent in Paul, and it had been anticipated that the Canadian would be taken care of, even with the Cavs flush with frontcourt players and well into the luxury tax.

Cleveland will also sign Kevin Love to a five-year, $110-million contract, so it's not a one-or-the-other situation at power forward for 2015-16.

It was believed that Thompson could seek the full maximum in restricted free agency, but the 24-year-old has signed for slightly less. If Thompson were to start with a $14-million salary for 2015-16 - roughly $2 million below his max - with the maximum allowable annual raise, his deal would total $80.5 million over the five years.

While the relationship with James surely helps, Thompson did well to increase his own value, particularly on an enormous stage in the playoffs. After averaging 8.5 points and eight rebounds in 26.8 regular-season minutes, Thompson averaged 9.6 points and 10.8 rebounds in the playoffs, shooting 55.8 percent and proving versatile on the defensive end.

With great lateral quickness for a big, Thompson does a superb job helping corral ball-handlers in the pick-and-roll. While he's not an elite rim-protector and doesn't have range on his jumper - most of his points come at the rim and on offensive rebounds - the deal isn't likely to be viewed as an egregious overpay, as it would've been in October.