• Ray Allen takes a jump shot during Game Four of the 2014 NBA Finals.

Ray Allen takes a jump shot during Game Four of the 2014 NBA Finals. (Photo : Getty Images/Andy Lyons)

The Cleveland Cavaliers and J.R. Smith are still in a holdout regarding a new deal with just three weeks before the 2016-17 NBA season. According to the latest rumors, the Cavaliers have had enough of Smith's demands and they will sign Ray Allen as his replacement.

The mercurial guard helped the Cavaliers win the 2016 NBA championship while also showing signs of maturity. He is due a huge raise from the Cleveland ownership but the two sides cannot agree on an annual salary.

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According to Real Sport 101, Smith officially rejected the contract offer made by Cavs general manager David Griffin that has an annual salary of $10-11 million. The 31-year-old and his agent, Rich Paul, is rumored to be looking a deal worth $14-15 million per year.

LeBron James has expressed his frustration on Smith and the Cavaliers front office for continuing the holdout. He is hoping that both sides will come to a solution with the Cavs starting their title defense on October 25 against the New York Knicks.

The Cavs have already signed a new backup point guard, Toney Douglas, this week that has left Smith speechless on Twitter. Douglas will be a good backup for Kyrie Irving but it is also possible that the Cavaliers front office can replace Smith with someone cheaper.

According to Brian Mazique of Forbes, it is now the time for the Cavaliers to move on from Smith. He pointed out several players who can replace Smith like Kirk Hinrich, Kevin Martin and Ray Allen. However, it seems like Allen is the most obvious choice for Cleveland.

The 41-year-old is one of the best-conditioned athletes in the world and he has stayed in great shape despite spending two years away from basketball. He last played for the Miami Heat alongside The King which will make his possible signing much easier.

Allen is clearly a better shooter than Smith but not as flexible defensively. Nevertheless, the Cavaliers are not afraid to let Smith walk since they can find his replacement in free agency.

It should be noted that these are just purely speculative at the moment and should be taken with a grain of salt. Check out the video below for some of Allen's clutch shots during his illustrious career.