Cleveland, OH (SportsNetwork.com) - The Cleveland Cavaliers announced Saturday that the club has exercised the fourth-year option on the contract of guard Dion Waiters.

The 22-year-old Philadelphia native and Syracuse product finished last season with averages of 15.9 points, 3.0 assists and 2.8 rebounds over 70 appearances for the Cavs. Waiters was taken by Cleveland with the fourth overall pick of the 2012 NBA Draft.

In 131 career contests for Cleveland, Waiters has averaged 15.3 points, 3.0 assists and 2.6 boards per game.