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Perkins' reps and the Jazz reached agreement on the buyout on Saturday afternoon, and Perkins can sign with the Cavaliers once he clears waivers on Monday at 5 p.m. EST.
Perkins strongly considered the Los Angeles Clippers, too.
For the Cavaliers, Perkins will be a backup center to Timofy Mozgov.
Perkins’ talents have diminished in the past few years, but his toughness and leadership still makes him a valued presence in contending locker rooms. Perkins has played 13 NBA seasons, including eight with the Boston Celtics and five with the Thunder.