Bobcats sign Varejao to offer sheet

Cleveland Cavaliers' Anderson Varejao, from Brazil, waits to re-enter the game against the Golden State Warriors in the fourth quarter of NBA basketball action Saturday, Feb. 11, 2006 in Cleveland. Cavaliers' Sasha Pavlovic, back, from Serbia & Montenegro, looks on. The Charlotte Bobcats reached agreement Tuesday, Dec. 4, 2007, on a three-year offer sheet with Cleveland restricted free agent Anderson Varejao, giving the Cavaliers a week to match the deal or lose him.

In need of a big man, the Charlotte Bobcats reached agreement Tuesday on a three-year offer sheet with Cleveland restricted free agent Anderson Varejao, giving the Cavaliers a week to match the deal or lose him. The deal is for the Bobcats’ midlevel salary cap exception, worth just over $17 million. Varejao could opt out of the deal after the second season and become an unrestricted free agent.

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