Matching the McCaw offer sheet would have elevated the Warriors' luxury tax bill $11.3 million to $61.6 million.
A person with knowledge of the agreement says Patrick McCaw has signed a two-year, $6 million offer sheet with the Cleveland Cavaliers. If McCaw is cut before January 7, the club won't be on the hook for his pro-rated $3-million salary, allowing the 23-year-old to become an unrestricted free agent. The contract is fully non-guaranteed.
It has not yet been determined how long it will be before McCaw can return to game action after sitting out the season's first three months.More news: Canadian citizen to go on trial over drug-smuggling charges in China
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McCaw was sidelined for nearly two months with a bone bruise in his lower back last season after a fall during a game at Sacramento, ESPN reports. The Warriors essentially replaced McCaw's minutes in the rotation with Alfonzo McKinnie, who they signed just before the season when they were unable to come to terms with McCaw.
The 23-year-old McCaw had been expected to be in the defending National Basketball Association champion's rotation this season but didn't re-sign with the team as a restricted free agent.
McCaw averaged 4.0 points in 128 regular-season appearances with the Warriors over the past two seasons.