Source: Matthew Dellavedova accepts Cavs' one-year qualifying offer

CLEVELAND -- The Cavaliers have agreed to re-sign backup point guard Matthew Dellavedova, who reached cult-hero status during Cleveland's injury-plagued run to the NBA Finals as he filled in for Kyrie Irving.

Dellavedova, a restricted free agent, accepted Cleveland's qualifying offer and will return on a one-year deal worth approximately $1.2 million, a source with knowledge of the negotiations told ESPN on Monday.

By accepting the Cavs' qualifying offer, Dellavedova will become an unrestricted free agent next summer when the league's salary cap is set to balloon.

Another motivation for the timing of the deal, a source told ESPN's Marc Stein, is that Dellavedova wanted to get his contract situation resolved before competing for his home country of Australia in the FIBA Oceania Championship next month.

Dellavedova, who will turn 25 in September, averaged 4.8 points and 3.0 assists while shooting 40.7 percent from 3-point range during the regular season. He also averaged 7.2 points and 2.7 assists in the postseason, punctuated by a memorable 19 points in a series-clinching win in Chicago in the second round and 20 points in the Cavs' Game 3 win over Golden State to go up 2-1 in the Finals.

His role as Irving's primary backup next season will be tested, with the Cavs also signing Mo Williams as a free agent this summer. Williams, however, likely will see time at shooting guard as well.

The Dellavedova signing follows Cleveland's offseason trend of bringing the band back together after LeBron James, Kevin Love, Iman Shumpert and James Jones all re-upped with the franchise.

Talks between the Cavs and two other key members of last season's Eastern Conference champion squad, Tristan Thompson and J.R. Smith, remain ongoing.

ESPN.com's Marc Stein contributed to this report.