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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 cleveland.com’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.