Report: Luke Harangody Signs Qualifying Offer With Cavaliers

In a move that is sure to rock the NBA world, Luke Harangody has signed his qualifying offer with the Cavaliers, according to Yahoo! Sports' Adrian Wojnarowski. This means that Harangody will play for the Cavs next season and make around $1.1 million.

(obligatory pause while you all digest the fact that Luke Harangody makes a million dollars each year)

Okay, we're good to go.

So, Harangody signed the qualifying offer rather than become a restricted free agent. He is now under contract with the Cavs for the 2012-13 season and will be an unrestricted free agent next summer. You are now free to invest in a Luke Harangody jersey -- he's back!