CLEVELAND — The Cleveland Cavaliers and Anderson Varejao reportedly have agreed on a six-year contract that could be worth as much as $50 million.

Agent Dan Fegan told The Plain Dealer late Wednesday that the club and Varejao have agreed on a new contract. The team would not confirm the report Thursday.

General manager Danny Ferry had earlier stated his intent to re-sign the 6-foot-11 Brazilian after Varejao did not exercise his option on a $6.2 million contract for next season, making him an unrestricted free agent.

Known for his hustle, Varejao posted career-highs with 42 starts, 8.6 points per game and a field-goal percentage of .536 last season, when the Cavs won a league-high 66 regular-season games but were eliminated in the Eastern Conference finals by Orlando.

The signing is the second major offseason move by the Cavaliers, who completed a blockbuster trade June 25 to acquire center Shaquille O'Neal from the Phoenix Suns.

The Plain Dealer's report and other online reports of the agreement were attributed to Varejao's agent, Dan Fegan. A telephone message for Fegan on Thursday was not immediately returned.

"Andy wanted to stay in Cleveland," Fegan told the newspaper. "He feels there is unfinished business — to win an NBA championship."

Varejao had interest from several teams, including the Portland Trail Blazers and Oklahoma City Thunder, and other potential sign-and-trade offers from other teams without salary-cap space. Fegan said several teams were willing to offer Varejao contracts that averaged $10 million per season.

A new Varejao deal is a sign any previous animosity between the player and Cavaliers management is no long an issue. The two sides bickered over a contract in 2007, and Varejao missing the first part of that season in a holdout.

The deal reportedly will keep Varejao's salary cap number to a little more than $7 million for the 2010-11 season, which could help Cleveland's position next summer, when Cavaliers superstar LeBron James potentially could be a free agent.