Recently-crowned NBA champions Cleveland offered the Australian point guard $US1.4 million on Friday (AEST) to retain his services.

It is the minimum the Cavaliers could initially offer Dellavedova, but it is likely just the first move in a high-priced battle between NBA teams for his services.

The offer makes Dellavedova a restricted free agent and while New York, Detroit and Milwaukee are reportedly interested in the Victorian, the Cavaliers can keep him if they match any rival team's deal.

If, as former Knicks head coach and ESPN NBA commentator Jeff Van Gundy predicted, Dellavedova receives a $US10 million-plus a year offer, the Cavaliers will likely be unwilling to match it.

US reports suggest rival NBA executives anticipate Dellavedova's minimum salary will be $US8 million.

Dellavedova, despite a career-best regular season averaging 7.5 points, 4.4 assists and 41 per cent three-point shooting percentage, may have damaged his stock in the Cavaliers' post season run.

In the playoffs he averaged just 3.9 points, slumped to 26 per cent on three-pointers and was benched for the title-winning game seven against the Golden State Warriors.

That could make Dellavedova, who earned $US1.147 million last year, a casualty as the Cavaliers are forced to dig deep to re-sign star LeBron James - who opted out of his $US24 million deal and is expected to collect $US30 million from the team.

Starting guard J.R. Smith, back-up centre Timofey Mozgov and reserves James Jones and Richard Jefferson are also off contract.

The Cavaliers' management are also expected to look to add new elite players in their attempt for back-to-back championships.

James, Dellavedova and other players seeking new contracts will benefit from the NBA's new nine-year, $US24 billion TV broadcast deal.

The extra money will boost team salary caps from last year's $US70 million to around $US94 million.