Thompson agrees to 5-year, $82M pact with Cavs

CLEVELAND – Already an elite rebounder, Tristan Thompson snatched a long-term contract from the Cavaliers.

The restricted free-agent forward has agreed in principle with the defending Eastern Conference champions on a five-year, $82 million contract, ending his holdout and giving the Cavs needed frontcourt depth as they enter a new season.

The team confirmed Wednesday night that it had a verbal agreement with Thompson, who helped the Cavs get to the NBA Finals last season by filling in for an injured Kevin Love. Thompson had been seeking a maximum deal, while the Cavs made it known they valued the former No. 4 overall pick, but weren’t going to overpay for a reserve.

The sides had been in an awkward stalemate, which threatened to carry over into the regular season. However agent Rich Paul, who also represents star LeBron James, and Cleveland’s front office were able to come to terms less than a week before the opener at Chicago.

There’s a chance the deal will be finalized Thursday and Thompson, who has been working out on his own during the holdout, can begin practicing.

Thompson posted a photo on Instagram wearing a Cavaliers’ baseball cap.

“It’s been a long summer of grinding and hard work but now it’s back to The Land to take care of some unfinished business,” Thompson wrote.

With Thompson’s deal and extensions given this summer to James, Love, J.R. Smith and Iman Shumpert, owner Dan Gilbert has shelled out nearly $300 million in guaranteed money during the offseason.