J.R. Smith broke his own free agency news Thursday night: he is set to re-sign with the Cleveland Cavaliers.

Smith announced on Instagram that following a rough offseason, a deal has at last been reached:

“Happy to say that I am returning to the Cavs! It’s been a long ride this summer but I can say for sure, well worth the wait. When I opted out of my contract, I wanted to understand the landscape of the NBA and where I fit best. The Cavaliers had things they needed to do in order to piece together a championship caliber roster. I ended up deciding that instead of potentially securing a larger deal elsewhere, I wanted to rejoin an incredible organization in pursuit of the ultimate goal, an NBA championship. Thank you to the Cavaliers for making this happen. Can’t wait to get started!”

The pact is reportedly for two years, though only one season is fully guaranteed.

Per the Akron Beacon Journal:

Smith declined a player option that would’ve paid him $6.4 million for this season, then struggled securing another, more lucrative deal. He is expected to sign a two-year deal, a league source with knowledge of the agreement said, that includes a no-trade clause in the second year as triggered by the collective bargaining agreement.

 

Smith shot 39 percent on 3-pointers for the Cavs following a January trade, but he was suspended for two playoff games and vanished in the Finals when the Cavs desperately needed his offense. He shot just 29 percent against the Golden State Warriors, but will be the fourth option on offense when the roster is healthy and intact.

 

Since only one year of Smith’s new deal will be guaranteed, he has the power to reject any trades since a deal would cost him his Bird rights under the collective bargaining agreement. […] Smith’s deal leaves Tristan Thompson as the only unsigned player from the nucleus of last season’s Eastern Conference championship. Thompson remains under team control for at least one more season, but the two sides remain in a standoff regarding a long-term extension.