The 30-year-old point guard is coming off a four-year, $38.43 million contract he originally signed with the Milwaukee Bucks in 2016.
A reliable defender off the bench, Dellavedova averaged 3.1 points, 1.3 rebounds and 3.2 assists in 57 games during the 2019-20 season for a Cavs team working to rebuild on the fly around the likes of Collin Sexton, Darius Garland and Kevin Porter Jr.
That made the season a year for growth in Cleveland, with the team finishing with a 19-46 record. The Cavs did not return to play following the COVID-19 hiatus.
Undrafted out of Saint Mary's in 2013, the Australia native first signed with the Cavs in 2013 and helped the team win the 2016 NBA Finals over the Golden State Warriors.
Following that season, Dellavedova was sent to the Bucks in a sign-and-trade for the rights to Albert Miralles and a $4.8 million trade exception. The 6'3" guard was sent back to Cleveland in 2018 as part of the three-team trade with Milwaukee and the Washington Wizards.