Cleveland Cavaliers vs Milwaukee Bucks preseason

Cleveland Cavaliers center Anderson Varejao (17) drives to the hoop in the first quarter against the Milwaukee Bucks. (Gus Chan / The Plain Dealer) October 14, 2014 at Quicken Loans Arena

(Gus Chan)

CLEVELAND, Ohio – Center Anderson Varejao and the Cavaliers are in the midst of "serious talks' towards reaching an extension.

Varejao, 32, is in the final year of a six-year, $48 million contract and would become an unrestricted free agent at the end of the 2014-15 season. He is making $9.8 million this year.

Yahoo! Sports reports that talks are ongoing and added, "there's no agreement imminent." Yet the report says both sides desire to keep the 10-year relationship going.

Last week Varejao won the starting center position over Tristan Thompson. He was thought to be on the decline, but a strong preseason showing suggested otherwise.

Varejao has a career average of 7.8 points, 7.8 rebounds and a 51 percent clip from the field.