The Cavaliers have signed Anthony Bennett, the No. 1 overall pick in this year's draft, to his guaranteed rookie contract.
Financial terms were not immediately known, but the deal can be worth up to $22.8 million over four years.
Bennett was somewhat of a surprising selection by the Cavaliers, who believe the 6-foot-8, 240-pounder from UNLV can play power forward. He's recovering from shoulder surgery, but the Toronto native is expected to be ready for the start of training camp. He averaged 16.1 points and 8.1 rebounds as a freshman with the Runnin' Rebels.
The Cavs also said they have finalized their deals with first-round pick Sergey Karasev, a guard from Russia, and second-round selection Carrick Felix from Arizona State.
Karasev helped lead Russia to the gold medal in the World University Game this summer.