Sexton is now a restricted free agent and the high-energy scorer could draw interest from other teams.
If Sexton receives an offer sheet, the Cavs can match it.
Teams can begin negotiating with free agents on Thursday.
A first-round pick in 2018, Sexton played in just 11 games last season before tearing meniscus in his right knee and undergoing surgery.
The 23-year-old had been playing well and seemed to accept a lesser scoring role alongside All-Star Darius Garland.