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Report: Jarrett Allen has reached agreement with Cavaliers on five-year deal [UPDATE]

Veteran center will become a restricted free agent this week but likely won’t be going anywhere.

 Jarrett Allen #31 of the Cleveland Cavaliers shoots a free throw during the game against the Washington Wizards on May 14, 2021 at Capital One Arena in Washington, DC. Photo by Stephen Gosling/NBAE via Getty Images

Veteran center Jarrett Allen is expected to re-sign on a five-year contract with the Cleveland Cavaliers in the $100 million range, Marc Stein of the New York Times reported Monday afternoon. He was acquired by the Cleveland Cavaliers in the final season of his rookie deal as part of the Brooklyn Nets’ trade for James Harden.

UPDATE — The Cavs and Allen has reached an agreement on the reported 5-year, $100 million deal, per Chris Haynes of Yahoo Sports.

Allen was a consistent presence on both ends of the floor during his time in Brooklyn. The Nets selected him with the No. 22 overall pick in the 2017 draft and had to be pleased with the progress he made in more than three seasons. He was averaging 11.2 points and 10.4 rebounds per game in Brooklyn prior to being traded to the Cavaliers. In Cleveland, he averaged 13.2 points and 9.9 rebounds per game.

The Cavaliers recently draft big man Evan Mobley out of USC last week with the No. 3 overall pick in the 2021 NBA Draft. Stein is reporting the Cavaliers plan on pairing Allen with Mobley in the front court this upcoming season. Mobley projects as more of a 4-5 combo, but this gives the Cavs the flexibility of going with multiple looks with Allen or Mobley at the 5.

Cleveland’s cap situation is in pretty good shape. Darius Garland, Collin Sexton, Isaac Okoro, Cedi Osman and Mobley are all going to be on very cheap deals for at least the next season. Sexton would be eligible for an extension, but there’s also reports he could be moved before hitting restricted free agency next offseason.

Kevin Love has two years left on his deal when the calendar flips. So the Cavs can look to move Love after this upcoming season for assets. The veteran PF is towards the end of his career and has struggled with injuries. Perhaps in a lesser role Love will thrive with a more talented Cavaliers roster.