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Rodney Hood accepts qualifying offer from Cavs

Hood will make $3.4 million this season and hit unrestricted free agency next summer.

Toronto Raptors v Cleveland Cavaliers - Game Three Photo by Gregory Shamus/Getty Images

Rodney Hood’s restricted free agency has come to an end.

According to’s Joe Vardon, Hood informed the Cavs on Sunday that he would accept his qualifying offer worth $3.4 million for next season. The move means Hood will be an unrestricted free agent next summer. He reportedly turned down a multi-year offer worth $7 million annual down from Cleveland.

Additionally, ESPN”s Adrian Wojnarowski reports that Hood and the Cavs explored sign-and-trade options. However, no offers were available and an offer from the Cavs in the $10-$12 million range annual never came to be:

For Hood, this makes sense. Without the longterm money he wanted, there was no reason to lock in for the next few years. He’s 25-years-old and will be 26 soon, so there’s still time for him to get a bigger deal in a year when he can control his own future and more money will be available. He’ll also get a chance to shine on a Cavs team in need of creators and and scorers in a post-LeBron James world.

The Cavs also should be okay with this. Hood has never proven to be a consistent player in Cleveland or with the Jazz. He also struggled in the playoffs and infamously refused to enter a game. $7 million a year would have been fine for Hood, but anything more would be an overpay based on what he’s been so far.

The Cavs have not yet officially confirmed the move.