(SportsNetwork.com) - Stating that he has "unfinished business", Kevin Love has decided to remain with the Cleveland Cavaliers for next season and beyond.
Love announced his intention to re-sign with the Cavs in a piece he authored for The Players' Tribune website, while ESPN reported that the free-agent forward has agreed to a five-year, $110 million contract to remain with the defending Eastern Conference champions.
The decision comes one week after Love opted out of the final year of his previous deal. Under league rules, the Cavaliers cannot formally announce the signing until July 9.
"I'm going back to Cleveland," Love wrote. "After Game 1 of the NBA Finals, that's when it really struck me. Sitting on the sidelines, I never wanted to play in a game more than that one. I had dreamed of playing in the NBA Finals and I just wanted to help my guys win. I couldn't have been prouder of them as they poured their blood, sweat and tears onto the court.
"Yeah, of course I've heard the free agency rumors. But at the end of the day, and after meeting with my teammates (it turns out pools are great meeting places) and with the front office, it was clear Cleveland was the place for me. We're all on the same page and we're all in. We have unfinished business and now it's time to get back to work."
Love averaged 16.4 points and 9.7 rebounds over 75 regular-season games in his first season in Cleveland, though he played in just four playoff contests before suffering a dislocated shoulder that required surgery during the opening-round series against Boston.
The 26-year-old made three All-Star teams in six seasons with Minnesota before being shipped by the Timberwolves to the Cavaliers last August, part of a blockbuster trade in which Minnesota received reigning NBA Rookie of the Year Andrew Wiggins.
Prior to joining the Cavs, Love averaged 19.2 points and 12.2 rebounds over 364 games with the Timberwolves. He ranked fourth in the league in scoring (26.1 ppg) during his final season in Minnesota and led the NBA in rebounding (15.2 rpg) in 2010-11.
With Love back in field, the Cavaliers can now focus on retaining some of their remaining free agents headlined by LeBron James, who also declined his player option but is expected to re-sign with his hometown team.