Ferry returns to Cleveland as GM

Ferry replaces Jim Paxson, who was fired by new owner Dan Gilbert on April 21, and will be introduced on Monday afternoon at a press conference held at Gund Arena.

Terms of the contract were not immediately released, but the Cleveland Plain Dealer reports that the deal is for five years and is worth close to $10 million.

For the past two years, Ferry had served as director of basketball operations with the San Antonio Spurs, who are fresh off winning their third NBA championship in seven years.

The 38-year-old Ferry played 13 seasons in the NBA, averaging 7.0 points and 2.8 rebounds per game. His last three seasons in the league came with the Spurs.

The Los Angeles Clippers picked Ferry with the second overall pick of the 1989 draft, but the Duke product opted to play in Italy instead. He was then traded to the Cavaliers and joined the team for the 1990-91 season.