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Larry Nance Jr. is arguably the most promising young player on the Cleveland Cavaliers and is "drawing a lot of trade interest," though "the Cavs appear to have no plans of dealing him," according to Terry Pluto of Cleveland.com.

Joe Vardon of Cleveland.com reported last week that the Cavaliers view Nance as a "foundational piece."

Vardon added that the Cavaliers "can offer him a four-year extension to the final year of his existing contract. Technically, the first year of the extension could be worth about $25 million—a max salary—but that's not the number Nance will reach."

Nance, 25, averaged 8.9 points and 7.0 rebounds in 24 games during the regular season with the Cavs. He was less effective in the postseason, posting 4.8 points and 4.5 rebounds in just 15.4 minutes per game.

Offering Nance an extension is one of the many fascinating decisions the Cavaliers are facing this offseason. Everything begins with whether the team can retain LeBron James and how they might build a contender around him if he either opts into his player option or signs an extension with the team.

But beyond that, Rodney Hood will be a restricted free agent, and the Cavs will have to decide if they want to offer him a qualifying offer or if they'll match any offers he receives on the market. While Nance showed promise in Cleveland, Hood largely struggled, averaging just 10.8 points in 21 regular-season games and 5.4 points per contest in the postseason.

Hood and Nance were two of the four pieces the Cavaliers acquired in their midseason trading spree, alongside Jordan Clarkson and George Hill. Of that bunch, Hill played the largest role, serving as the team's starting point guard. None replaced the impact of Kyrie Irving, however, who the Cavaliers traded to the Boston Celtics last summer.

Nance appears to have a long-term place in the team's plans, though, barring a trade for a more established superstar like Kawhi Leonard. In that scenario, Nance would be one of the team's most valuable trade assets, alongside the No. 8 overall pick in this year's draft.

And given that it appears there is interest around the league in Nance, he may yet be dangled for another star player as Cleveland explores every possible avenue to entice James to remain with the organization.