CLEVELAND, Ohio -- Mo Williams could be in his last week as a member of the Cavaliers.

Williams, 33, a 13-year veteran and former All-Star who played a supporting role in the Cavs' 2016 NBA championship, is strongly considering retirement, multiple sources told cleveland.com.

Additionally, the "stretch" deadline in the NBA is approaching, which means that if a player is waived by Aug. 31 (Wednesday), the team can spread his salary out over a period of years -- which could lessen the luxury tax penalty Cleveland owner Dan Gilbert will have to pay next summer.

Williams exercised the player's option in the two-year, $4.3 million contract he signed prior to the start of last season, so the Cavs would owe him about $2.2 million in '16-17.

The Cavs' payroll is already $117.6 million -- way over the NBA's $94 million cap and above the luxury-tax threshold of $113.2 million. They have yet to re-sign J.R. Smith or bring in additional player through trade, which will bump the team's payroll even higher.

Waiving Williams before the Aug. 31 deadline would allow the Cavs to pay him his $2.2 million over a period of three years and lessen his tax burden to the team by several million dollars.

But Williams' departure from the team would also leave Cleveland with only 2016 second-round draft pick Kay Felder of Oakland University as backup point guard to Kyrie Irving on the roster.

The Cavs could find a potential trade partner to take Williams' contract and allow Cleveland to add to its roster, according to a source, so there is no decision yet from an organizational standpoint on whether or not to waive him by Wednesday's deadline.

From Williams' side of this, he battled a left-knee issue for most of last season while playing in just 41 regular-season games, as his playing time dwindled once Irving returned from knee surgery and the coaching staff chose to stick with Matthew Dellavedova as Irving's backup.

Sources said his balky knee, desire to coach -- especially younger players and children -- and the obvious chance to go out as a champion are weighing heavily upon him.

Williams and Felder are featured in a recent YouTube video conducting a workout, though in the 11-minute clip it appeared Williams was mostly giving instruction to the Cavs rookie and was barely participating in the drills himself -- a sign that something like this is coming.

But Williams did not return multiple messages seeking comment, and this week posted numerous advertisements to Instagram promoting his summer basketball camp in Dallas, featuring him in full Cavs uniform.

Williams averaged 8.2 points, 2.4 assists and shot 35 percent from deep last season. He found his way back onto the floor when it mattered most -- in Games 6 and 7 of the NBA Finals -- when coach Tyronn Lue turned to him for spot duty as Dellavedova (who now plays for Milwaukee) struggled.

If Williams, who turns 34 in December, has indeed played his last NBA game, then his career ends with averages of 13.2 points, 4.9 assists, and 37.8-percent shooting from 3-point range and 87.1 percent from the foul line -- which is 23rd best in NBA history.

An All-Star in 2009, Williams played a total of 31/2 seasons with the Cavs over two stints, the first from 2008-2011, when he was the point guard for the two best regular-season teams in franchise history alongside LeBron James. His 14.8 points and 40-percent shooting from 3-point land during his time in Cleveland were career bests.

Williams first left the Cavs in 2011 when he was traded to the Los Angeles Clippers, as Cleveland sought to rebuild after losing James to Miami the previous summer. Williams criticized James on social media for the manner in which he left the Cavs, but their relationship was later repaired.

Williams scored a career-high 52 points on Jan. 13, 2015, as a member of the Minnesota Timberwolves.