Update: By now you've probably heard Varejao's contract is worth up to $50 with incentives and the sixth year isn't fully guaranteed. Based on that, the contract makes much more sense.
ESPN reports that the Cavs have come to terms with Anderson Varejao on a six-year $50 million deal.
That's over $8 million per year, giving Varejao a significant raise over the $6.2 million he opted out of for the coming season.
Given how contract negotiations went the last time the two parties bumped heads, this is akin to Brett Favre and the Green Bay Packers making nice. The last negotiations were contentious to say the least.
Varejao had his best year as a pro, starting in 42 games in place of an injured Ben Wallace and Zydrunas Ilgauskas.