Andrew Bynum has signed an incentive-laden two-year contract worth up to $24 million with the Cleveland Cavaliers.
Team owner Dan Gilbert gambled a guaranteed $6 million for Bynum.
He sees it as a low-risk move given how rarely a former All-Star center such as Bynum becomes available on the open market and to lottery teams such as the Cavs.
Bynum was one of the few players ever to average at least 18.7 points, 11.8 rebounds and 1.9 blocks per game at the age of 24 or younger, which he achieved in the 2011-2012 season.
But he missed the entire 2012-13 season with the Philadelphia 76ers because of a knee injury.
The 7-foot center will have to reach a variety of health- and games-related benchmarks to collect the full $12 million in the first year of the deal, with the Cavs also holding a team option for the second year.
Bynum made his decision after also meeting with the Atlanta Hawks and Dallas Mavericks, with neither giving him a formal offer.
Mavericks officials have "significant concerns" about Bynum's ability to be ready for the start of the season or to have any significant impact in 2013-14.
Although the Cavs are realistic about the severity of Bynum's injury history, the team was encouraged by recent MRI results.
Cavs sharpen backcourt with Jarrett Jack acquisition
The Cleveland Cavaliers locked in Jarett Jack to a four-year, $25 million deal after the combo guard was jettisoned by the Golden State Warriors.
Jack, 29, provides quality depth to a young Cavs backcourt headed by All-Star Kyrie Irving and 2012 first-round draft pick Dion Waiters.
A Sixth Man of the Year candidate last season, Jack is expected to play a similar role in Cleveland as he did with Golden State, where he was part of a strong three-guard rotation with Stephen Curry and Klay Thompson.
He will likely be the Cavaliers' sixth man, although his role with the Cavs has not been discussed.
The Cavaliers' biggest weakness last season was their bench, and Jack gives them an upgrade over C.J. Miles.
The8-year veteran is coming off a season in which he averaged 12.9 points and 5.6 assists and 3 rebounds for the Warriors.
The Warriors renounced their right to Jack Friday after losing caap space in signing free agent Andre Iguodala, clearing the way for the Cavs to make the deal.