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Report: Cavaliers sign Rodney Hood to $3.4 million qualifying offer

Indiana Pacers v Cleveland Cavaliers - Game One

CLEVELAND, OH - APRIL 15: Rodney Hood #1 of the Cleveland Cavaliers warms up prior to playing the Indiana Pacers in Game One of the Eastern Conference Quarterfinals during the 2018 NBA Playoffs at Quicken Loans Arena on April 15, 2018 in Cleveland, Ohio. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Gregory Shamus/Getty Images)

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Rodney Hood was rumored to have wanted a contract from the Cleveland Cavaliers in the neighborhood of three years and $27 million. Instead, Hood will sign his $3.4 million qualifying offer with Cleveland and become an unrestricted free agent in the summer of 2019.

That’s according to The Athletic’s Shams Charania, who says that the Cavaliers guard will be looking to sign a new deal with whichever team he chooses come next July. Hood was a restricted free agent this summer but did not sign an offer sheet with any teams, leaving most of the negotiation between him and Cleveland.

Via Twitter:

Hood will be heading into his fifth year in the league this season, and has seen his growth stunt a bit. It was apparent that Hood was not vital for the Cavaliers at times in 2017-18, and often in the playoffs he failed to even see the floor.

In the wake of 2016 and NBA general managers being more discretionary with their salaries, Hood was in some ways set to be the bellwether for what direction organizations might take on players of his youth and caliber.

Situationally, it made more sense for Cleveland to keep Hood on a short-term deal. Likewise, while Hood may have wanted a longer contract it did not seem as though he came to earn it in any sense. He will have an opportunity with a clear path to more impact for the Cavaliers next season as he tries to entice a larger offer.