12:30pm: The Spurs, Lakers, and Clippers are also expected to have interest in Korver, per Sam Amico of AmicoHoops.net. We can add those potential suitors to the Pelicans and Bucks, who are noted below.

11:57am: The Cavaliers are expected to make a contract offer to Kyle Korver when free agency opens early on Saturday morning, according to Joe Vardon of Cleveland.com. While details of that offer aren’t yet known, it will likely come at 12:01 am ET on Saturday, per Vardon.

Because the Cavaliers traded for Korver during the season, they acquired the veteran’s Bird rights along with him, which will allow them to make him a contract offer without any restrictions. However, the team will have to seriously consider the tax implications of an offer to Korver. Cleveland projects to be well over the tax line already, and repeater tax penalties will be significant.

There are also several other teams believed to have interest in Korver. Vardon names the Pelicans and Bucks as two clubs likely to be among the suitors for the veteran sharpshooter, though it remains to be seen how aggressive those teams – or others – will be.

In addition to eyeing a new deal for Korver, the Cavaliers have also had discussions with Turkish forward Cedi Osman, a draft-and-stash prospect who was the 31st overall pick in the 2015 draft. However, with no cap room and only the taxpayer mid-level exception ($5.192MM) at their disposal, the Cavs’ ability to offer a significant contract will be limited, especially if they intend to use that MLE on someone else. As Vardon notes, Carmelo Anthony remains on the club’s radar as a probable target if he’s bought out, though there’s no indication that the Knicks are leaning toward that option.

The Cavaliers continue to operate without a full-time president of basketball operations or GM in place. We heard earlier this week from ESPN’s Jeff Goodman that Chauncey Billups and the Cavs remained in talks after Billups issued a counter-offer to the team, but there is still no resolution. Assistant general manager Koby Altman has essentially been Cleveland’s acting GM.