JR Smith is learning the hard way that opting out of a player option does not always mean more money. The shooting guard decided to forego a $6.4 million option with the Cleveland Cavaliers in hopes that the progress he showed during the playoffs was enough to get him a nice raise. Smith had some good moments during the postseason and appeared to find his way after being traded from the New York Knicks. However, that is not being reflected in contract offers.

According to Terry Pluto of the Cleveland Plain Dealer, Smith angered the Cavaliers by opting out of his player option. General manager David Griffin and LeBron James have both stated that they would like to see Smith back with the team, but the only way that happens is if he takes a major pay cut. Pluto reports that Smith is likely to get offered a below-market one-year deal and nothing more.

At the moment, Cleveland is knee-deep in luxury tax issues with contracts already handed out to James, Kevin Love and Iman Shumpert. According to ProBasketballTalk.com, a $4 million contract to Smith would mean $14 million in tax for the Cavaliers. Having $18 million wrapped up in the shooting guard is not ideal. To make matters worse, the Cavaliers are still trying to get both Tristan Thompson and Matthew Dellavedova re-signed for the coming season which is push Smith farther back on the priority list.

There has not been any interest in Smith on the free agent market. The shooting guard has stated he favors a return to Cleveland, but at what price is he willing to make that commitment? Cleveland is still attempting to get Brendan Haywood traded in order to rid themselves of the $10 million contract. According to ESPN, the Cavaliers could be forced to roll that into a trade exception and simply wipe their hands clean. Another option for the team is attempting to trade Anderson Varejao. The center is signed to a lengthy contract and will likely start on the bench thanks to the return of Timofey Mozgov. The Cavaliers could try to trade him and then sign a cheaper option to make room for other contracts.