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Just don't equate that with hometown "discount."
Posey is one of the top free agents available on the market. The 6-foot-8, 217-pounder, who prepped at Twinsburg High School, has drawn interest from at least six teams. Included in that group are the Cavaliers.
"Yes, we are talking (to the Cavs)," agent Mark Bartelstein said on Thursday.
Posey, 31, is expected to get the full mid-level exception - starting with $5.6 million in 2008-09 - for three years. Sources say the Cavs might have to extend it out four years in order to land Posey.
And, therein lies the problem. Most teams don't want to give him a four-year contract, including Boston. The Cavs lived to regret giving four-year deals to Donyell Marshall and Damon Jones.
For one thing, Posey will be 35 by the end of the contract. Secondly, he's a bench player, a good piece for a team close to a championship, as the Celtics found out this past season. Also, that's a lot of money to pay a player who probably won't be a starter.
His best position is small forward. The Cavs have some other guy (LeBron James) who plays more than 40 minutes a game at the "3" spot.
Some think Posey could start at shooting guard with the Cavs, but that's not his best position.
Other teams that have shown some interest in Posey are the Los Angeles Lakers, New Orleans, Washington and Houston.
J.J. signs
The Cavs signed power forward J.J. Hickson to a two-year contract worth $2.74 million on Thursday.
Hickson was the Cavs' first-round pick in the June draft (No. 19 overall). The North Carolina State product will earn $1,329,480 in 2008-09 and $1,412,580 in 2009-10. The Cavs will hold an option on the 2010-11 contract worth $1,495,680, and the qualifying offer on the 2011-12 contract will be worth $2,303,347.
He'll play on their summer-league team in Las Vegas. They'll face New York on Monday, the first of five games.
Major taxpayers
There's a major reason why the Cavs haven't splurged in free agency: They are already major taxpayers.
The league sent out luxury tax bills this week, and the Cavs will be paying more than $14 million for the just-completed 2007-08 season. That's the third-highest figure in the NBA. Only New York ($19,723,946) and Dallas ($19,613,295) are paying more tax.
The Cavs have almost $80 million in salaries committed to the 2008-09 season. They also have to re-sign guards Delonte West and Daniel Gibson, both restricted free agents. They want to retain both players.
Any moves that will be made will likely come via a sign-and-trade, so they don't have to take on any more salary.
The league announced the threshold for the tax is about $71 million for the 2008-09 season. Anything over that and teams will be paying a tax.
Notes
The Suns are showing some interest in two former Cavs players, Darius Miles and Devin Brown. Brown averaged 7.5 points and 3.4 rebounds in a team-high 78 regular-season games with the Cavs last year. ... The NBPA and the S.I. Newhouse School of Public Communications at Syracuse University will host the first Sportscaster U, an introduction for NBA players considering sportscasting when their careers are over. Among the attendees at this year's inaugural event, which runs July 13-15, is Cavs guard Eric Snow.
