Restricted free-agent forward Tristan Thompson's lengthy holdout with the Cleveland Cavaliers ended when he agreed to a five-year, guaranteed $82 million contract on Wednesday, his agent Rich Paul told Yahoo Sports.

Thompson turned down a four-year, $52 million offer from the Cavaliers prior to last season. He also had missed training camp and the entire preseason for this upcoming season while holding out for a much more lucrative deal than the one he received. The $82 million contract is an increase of just $2 million more from what the Cavs were offering in July. With the Cavaliers scheduled to open the season on Oct. 27 against the Chicago Bulls, Thompson finally agreed to terms. He is expected to join the team on Thursday.

Thompson, 24, becomes the sixth-highest-paid power forward in the NBA behind Kevin Love, LaMarcus Aldridge, Blake Griffin, Paul Millsap and David Lee. Thompson, however, has never been an NBA All-Star and has a more limited offensive game.

Thompson averaged eight points and eight rebounds last season. His role increased in the playoffs while Love was sidelined by a shoulder injury. With Love now healthy, Thompson, who averaged 9.6 points and 10.8 rebounds in the playoffs, is expected to come off the bench for the Cavs.

The Cavaliers are now slated to have an NBA-high $108 million in player salaries this season. Had Thompson not agreed to terms, he would have remained a restricted free agent next offseason.

Love, LeBron James and Kyrie Irving will also make more than $15 million each this upcoming season.

Cleveland.com first reported news of Thompson's agreement.