Report: Rodney Hood looking for contract worth near $9 million annually
Are the Cleveland Cavaliers and restricted free agent Rodney Hood close to reaching an agreement?
According to cleveland.com’s Joe Vardon, the Cleveland Cavaliers have offered restricted free agent Rodney Hood a contract worth nearly $7 million annually over three years but Hood is looking for a contract worth nearly $9 million annually.
"They are waiting on restricted free agent Rodney Hood, who is looking at either accepting the Cavs’ one-year, $3.4 million qualifying offer or trying to get them to come up from their three-year offer worth, according to sources, about $7 million annually.Hood is said to be looking for something in the $9 million range annually."
Earlier in the offseason, Yahoo Sports’ Jordan Schultz reported that Hood was looking for a shorter-term deal with a higher annual salary.
The difference may seem negligible at first glance. However, a three-year, $27 million deal or two-year, $18 million deal is certainly more appealing than a three-year, $21 million deal.
To that point, a one-year deal worth $9 million is better than a one-year deal worth $3.5 million, which is what Hood would get paid if he signs his qualifying offer and opts to be an unrestricted free agent next offseason.
More from Cavs Free Agency
- 4 players the Cavaliers should pursue in 2024 free agency
- These 2 free agents could fill Lamar Stevens’ former role for Cavaliers
- 2 teams that should go after former Cavs forward Lamar Stevens
- Way-too-early buyout candidates for the Cleveland Cavaliers
- How the Cavaliers could afford to sign P.J. Washington
Hood, a 25-year-old swingman, will be entering his fifth season in 2018-2019.
One of the most productive players of the 2014 NBA Draft class, he averaged 14.7 points per game last season while shooting 42.9 percent from the field, 38.1 percent from three and 86.0 percent from the free-throw line.
However, outside of his performance in the 2018 NBA Finals (12.5 points per game while shooting 44.0 percent from the field), his postseason play was underwhelming. Questions about his toughness and effectiveness stemming from last year have been the source of his struggles in securing a deal he feels is fair.
The decision Hood will make if he can’t get the Cavs to offer him a $9 million salary is truly is a toss-up.
He can try to re-establish his market value with a good season in Cleveland after signing the qualifying offer or he can choose to take the security of a three-year deal instead of rolling the dice.
When the contract ended, he would be 28-years-old and in his prime. Theoretically, he’d be in position to earn the biggest payday of his career.
There’s no easy choice, even for the Cavs, as signing Hood to a deal with $6 million more over the course of its lifetime could result in Cavs owner Dan Gilbert paying a substantial amount in luxury tax.
Related Story. Cavs workout five interesting players. light
Fortunately, there does seem to be light at the end of the tunnel, as the two sides aren’t too far apart in negotiations.