Cavs re-sign Z

Just days after agreeing to terms with free-agent guard Larry Hughes, the Cavaliers have reportedly re-signed Zydrunas Ilgauskas to a five-year, $60 million deal. Judging by the results of our poll, I’m one of the few who thought the Cavs would be better off with a more athletic center but at the very least, if Danny Ferry insisted on bringing Z back, I’d hoped it would be a reasonable contract. Unfortunately, $12 million annually for five years just doesn’t seem all that reasonable to me.

On the bright side, Z’s signing likely means the Cavs have a better shot at landing fellow Lithuanian Sarunas Jasikevicius, a highly coveted point guard who would instantly improve the team’s outside shooting.

July 12 UPDATE: The ABJ is reporting that the first year of Z’s contract will be worth roughly $9 million, which is both good and bad news. The good news is, the Cavs will still have about $6 million to throw at a point guard, most likely Jasikevicius, one of Z’s best friends. The bad news, though, is that Ilguaskas’ escalating contract will probably be a financial burden before it’s all said and done, although the Beacon Journal also reports the fifth year of the deal is not fully guaranteed.

You can follow us on Twitter and Facebook for content updates.