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Hood has accepted Cleveland's $3.4 million qualifying offer, Joe Vardon of Cleveland.com reports.
Accepting the qualifying offer means that Hood has ended his restricted free agency this offseason. In addition, Hood will be an unrestricted free agent next summer. The former Duke standout averaged 10.8 points per game last season with the Cavaliers, but could be in line for a significant uptick in usage during the upcoming campaign with LeBron James heading to Los Angeles during free agency.
