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As expected, the Cleveland Cavaliers have extended their $3.4 million qualifying offer to swingman Rodney Hood, according to Joe Vardon of Cleveland.com.
Hood will therefore become a restricted free agent, meaning the Cavs can match a contract offer from another team, enabling them to keep him if they so chose.
Hood reportedly has been drawing the strongest interest from the Chicago Bulls, Indiana Pacers and New Orleans Pelicans.
He was acquired by the Cavs from the Utah Jazz at the February trade deadline –averaging 10.8 points in 21 regular-season games in Cleveland. During that time, Hood shot 44 percent from the field, and 35 percent on 3-pointers.
But then came the playoffs and Hood’s productivity and playing time went largely down the drain.
He registered by five DNP’s after falling out of coach Tyronn Lue’s rotation, before coming around to scorer 15 points on 7-of-11 shooting in Game 3 of the Finals, a loss to the Golden State Warriors.
Some insiders think Hood may have cost himself a lot of money with his postseason struggles — though he did average 16.8 points during the first 39 games of his season with the Jazz.