Rodney Hood is returning to the Cavaliers.
Cleveland announced Monday that the 25-year-old shooting guard has accepted its $3.4 million qualifying offer. Hood will enter unrestricted free agency next summer.
OFFICIAL: @rodneyhood has re-signed with the Wine & Gold!
— Cleveland Cavaliers (@cavs) September 10, 2018
The Cavs had also offered Hood a three-year deal worth about $21 million, according to an earlier report from Cleveland.com. However, he was seeking a contract that would have paid him around $9 million per season, that report says.
Hood was a restricted free agent this offseason and Cleveland could have matched any contract he signed with another team. The Kings and Bulls had both reportedly expressed interest in him this summer.
Hood began last season with the Jazz, where he averaged 16.8 points in 39 games, before he was traded to the Cavs in early February. He then tallied 10.8 points per game in 21 regular season appearances with Cleveland.
Hood struggled to stay in the Cavs’ rotation in the playoffs and finished the postseason averaging 5.4 points in 17 games.
Hood has knocked down 36.9 percent of his 3-pointers during his four-year NBA career.