Report: Cavaliers sign veteran guard Mike Miller

Sharpshooter played with LeBron James for two seasons in Miami.

Memphis Grizzlies forward Mike Miller (13) shoots against the Phoenix Suns during the second half at US Airways Center. The Grizzlies won 97-91. 

Joe Camporeale / USA Today Sports

CLEVELAND -- Free-agent shooting guard Mike Miller has reached a deal with the Cleveland Cavaliers, according to multiple reports.

Miller will sign a two-year contract worth $5.5 million, reported Yahoo Sports/FOX Sports 1 insider Adrian Wojarnowski. FOX Sports Ohio first reported Miller and the Cavs were close to reaching an agreement over the weekend.

It is believed Miller received better offers from the Denver Nuggets and Houston Rockets but turned them down for a chance to again play alongside LeBron James, Miller's former teammate with the Miami Heat.

James, who agreed to a two-year deal in free agency with the Cavs last week, was said to play a role in the recruitment of Miller. Both were members of the Heat's back-to-back championship teams in 2011-12 and '12-13. Miller, 34, spent last season with the Memphis Grizzlies. He played in all 82 regular-season games and averaged 7.1 points and shot 46 percent on 3-pointers.

The Cavs and Nuggets were said to be the frontrunners for Miller, selected fifth overall by the Orlando Magic in the 2000 draft.

"Unless something unforeseeable happens, he will be joining (the Cavs)," a league source told FOX Sports Ohio last Friday.

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