Sources: Rodney Hood Accepts Cavaliers’ Qualifying Offer

Rodney Hood ended his restricted free agency by accepting the Cavaliers’ $3.4 million qualifying offer and placing a bet on himself for a big season this year.

He informed the Cavs of his decision today, sources told cleveland.com.

Hood, 25, a gifted, 6-8 forward, will be an unrestricted free agent next summer. He left a multiyear deal from the Cavs worth about $7 million per season on the table by accepting their qualifying offer.

Sources said Hood was seeking a contract for more than $9 million per season from the Cavs. For comparison, the Celtics signed restricted free agent Marcus Smart to a four-year, $52 million deal this summer, and the Bulls matched the four-year $78 million offer sheet Zach LaVine signed with the Kings.

Source: Joe Vardon of Cleveland.com