Calderon will sign a one-year, $2.3 million deal for the veteran's minimum and become the team's backup point guard behind Kyrie Irving. The decision to commit to Calderon indicates the Cavs will let Deron Williams leave in free agency. Cleveland signed Williams midway through last season to back up Irving.
The Cavs have been active on other fronts, holding trade talks involving guard Iman Shumpert with the Houston Rockets and Minnesota Timberwolves, according to league sources. The team also has been involved in contract talks with its own free agent, Kyle Korver.
The Cavs still don't have a permanent general manager, having not replaced David Griffin after parting ways nearly two weeks ago. After several rounds of meetings and contract talks, Chauncey Billups has not agreed to take the job and instead has returned to his team in the BIG3 league, with which he plans to play in an event on Sunday in Charlotte, North Carolina.
Cleveland assistant general manager Koby Altman has been leading the front office since Griffin's departure. Owner Dan Gilbert has been active in all decisions, as well, sources said.