Bobcats sign Cavaliers holdout Varejao

CHARLOTTE (AP) — The Charlotte Bobcats today reached agreement on a three-year offer sheet with Cleveland restricted free agent Anderson Varejao.

The agreement gives the Cavaliers one week to match the deal or lose him.

The 6-foot-10 Varejao has been in a prolonged contract dispute with the Cavaliers which has kept him sidelined this season. He said last week he would prefer to be traded.

The 25-year-old Varejao averaged 6.8 points and 6.7 rebounds last season in helping the Cavaliers reach the NBA finals for the first time.

Bobcats coach Sam Vincent has been looking for a big man since the beginning of the season. The Bobcats lost Sean May to season-ending knee surgery in training camp.