Cavaliers, Ricky Rubio agree to a contract buyout

The Cleveland Cavaliers and veteran guard Ricky Rubio have agreed to a contract buyout, per sources. Rubio, 33, informed the club that he was stepping away from the game during the offseason, when scheduled to play for Spain in the FIBA World Cup.

“We remain fully supportive of Ricky and his efforts, which for now are best continued away from the team and have excused his absence from camp. We remain in regular communication and consultation with Ricky and will continue to assist him in any way possible,” the Cavaliers announced in a news release in October.

Referring to a few NBA betting sites, the Cavaliers hold 15th-ranked odds to win this season’s championship. Sportsbooks are showing better odds for the Miami Heat and New York Knicks.

ESPN Sources: After stepping away from the franchise to address his mental health, guard Ricky Rubio and the Cleveland Cavaliers have agreed on a contract buyout. If Rubio — a 12-year veteran — plays professionally again, it will be likely in his native Spain. pic.twitter.com/zyDvRihaGL

— Adrian Wojnarowski (@wojespn) January 4, 2024

By the sounds of it, this contract buyout could very well mark the end of Rubio’s 12-year NBA career. The buyout has $6.1 million left on this year’s contract and $6.4 million for 2024-2025, according to ESPN’s Adrian Wojnarowski.

This move provides the Cavaliers with a bit of extra cap space and opens up a second roster spot. If Rubio continues his professional career, it will reportedly be in his native country of Spain.

Ricky Rubio agrees to a contract buyout with the Cleveland Cavaliers, was slated to earn $6.4 million in 2024-25

Discussions shifted in recent weeks to a buyout once it became known that Rubio had no plans to engage in any team activities with the Cavaliers or in the NBA ever again, per Wojnarowski.

In February 2022, Cleveland traded Rubio to the Indiana Pacers. However, he never made an appearance with Indiana as he was still recovering from an ACL tear — the second of his career.

During the offseason that same year, he signed a three-year, $18.44 million contract with the Cavaliers. Rubio missed most of the past two seasons recovering from the injury.

Rubio played a combined total 67 regular-season games with Cleveland, dating back to the 2021-22 season. He also made three appearances off the bench with the Cavs in their 2023 first-round series against the Knicks.

Always thought Ricky Rubio was a little underrated, in part because of the hype around him when he was drafted.

23rd all time in career AST/gm. 33rd all time in career STL/gm.

His teams were +2.2 PTS per 100 possessions when he was on the floor and -2.5 when he was off. https://t.co/EPaEUrX81K pic.twitter.com/dEXCs1Cf1m

— Andy Bailey (@AndrewDBailey) January 4, 2024

Additionally, Rubio appeared in 33 games a year ago, joining the team at midseason and averaging 5.2 points and 3.5 assists. Of course, he’s played professional basketball since he was a teenager in Spain, where he became the youngest player in the history of the Spanish ACB League at 14 years old.

Rubio was selected fifth overall by the Minnesota Timberwolves in the 2009 NBA Draft. The 6-foot-2 guard played the first six years of his career with the Wolves. Then, he made stops with the Utah Jazz (2017-19) and Phoenix Suns (2019-20 season).

Furthermore, Rubio has made 603 starts in 698 career games of his 12-year NBA career. He averaged 10.8 points, 4.1 rebounds, 7.4 assists, 1.8 steals, and 29.6 minutes per game.

Over his career, he also shot 38.8% from the field, 32.4% from 3-point range, and 84.3% at the foul line. At his best, Rubio was a great asset for any team’s backcourt.