It was an expected move because Mozgov is now set to earn $4.95 million next season, which is a bargain. One of the reasons the Cavs were willing to trade two first-round picks for him last winter was because he had this option in his deal.
Mozgov averaged 10.6 points and 6.9 rebounds in 46 regular-season games after coming over from the Denver Nuggets in a trade. He averaged 10.6 points and 7.3 rebounds in 20 playoff games and scored a playoff career-high 28 points in Game 4 of the Finals.
The Cavs are expected to issue qualifying offers to Tristan Thompson, Iman Shumpert and Matthew Dellavedova within the next week. Also, they are waiting on decisions from Kevin Love and J.R. Smith this week on their player options.
The Cavs could have as many as 10 free agents on July 1, including LeBron James, who is expected to bypass his player option and become a free agent.