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CLEVELAND Free agent point guard Damon Jones has reached agreement on a four-year, $16.1 million contract with the Cleveland Cavaliers, his agent Mark Termini told The Associated Press yesterday.

Jones, who spent last season with the Miami Heat, will be in Cleveland today to finalize the deal, Termini said.

A Cavaliers spokesman had no comment on the club’s expected signing of Jones.

The signing will cap a busy offseason for the Cavaliers, who barely missed the playoffs last season and don’t plan to be out of the post-season any longer. The club’s goal this summer was to surround superstar LeBron James with more quality players, and Jones more than fits that criteria.

The 29-year-old who averaged 11.6 points and 4.3 assists in 66 games last season, has been trailed by the Cavaliers for most of the summer. The club offered him a contract a few weeks ago, but it appeared the well-traveled guard would re-sign with the Heat after prized free agent Michael Finley decided to sign with the San Antonio Spurs.

However, the Cavs’ pursuit paid off with general manager Danny Ferry filling the team’s most glaring roster need.

Jones’ signing puts the finishing touches on Cleveland’s first roster under Ferry, who in his first foray into free agency as a GM signed free agent guard Larry Hughes, forward Donyell Marshall and convinced center Zydrunas Ilgauskas to stay with the Cavs.

Jones will compete with veteran Eric Snow for the starting point job, but Jones would appear to be the favorite going into next month’s training camp because of his long-shooting range. Jones made 43 percent (225-of-521) of his 3-pointers last season, the league’s fifth best mark.

Outside shooting has been a problem for the Cavaliers. Cleveland shot just 33 percent on 3s last season, ranking them 27th of 30 teams.

Jones has not been with one team for more than one season since beginning his NBA career with New Jersey in 1998. He’s also played for Boston, Golden State, Dallas, Vancouver, Detroit and Milwaukee.