The Cavaliers will extend a $3.4 million qualifying offer to guard Rodney Hood, a league source confirmed.
Hood will become a restricted free agent, but the move gives the Cavs the chance to match any offer Hood receives from another team. The league deadline to make qualifying offers is Friday.
Joe Vardon of Cleveland.com first reported the Cavs’ intentions.
Acquired from the Utah Jazz at the Feb. 8 trade deadline, Hood averaged 10.8 points and 2.6 rebounds in 21 games with the Cavs, shooting .442 from the field and .352 from 3-point range. His average was significantly lower than his 16.8 points in 39 games in the structured offense of the Jazz.
Hood seemed overwhelmed in the playoffs, averaging 5.4 points and shooting .424 from the field and .167 from beyond the arc in 17 games with one start.
His postseason performance might have hurt the former Duke player’s value on the free-agent market, but Hood is 6-foot-8 and 25 years old. ESPN’s Bobby Marks speculated Hood could still get $10 million per year after earning $2.4 million this season, according to spotrac.com.
Marla Ridenour can be reached at email@example.com. Read the Cavs blog at www.ohio.com/cavs. Follow her on Twitter at www.twitter.com/MRidenourABJ.