JULY 6: The Blazers have offically re-signed Hood, the team confirmed today in a press release.
While Woj pegs the value at $16MM, Jason Quick of The Athletic reports that the agreement will be worth $5.7MM next season and contains a $6MM player option for the following season. Those numbers make more sense, as Portland doesn’t have Hood’s Bird rights and likely will be limited to the taxpayer mid-level exception.
Portland acquired Hood in a deal with Cleveland prior to the trade deadline last season, using his scoring and energy off the bench heading into the playoffs. The team recently traded for Kent Bazemore as insurance on the wing if Hood committed elsewhere, but the two sides were able to finalize an agreement less than an hour into free agency.
Hood, 26, averaged 9.6 points per game in 27 contests with the Blazers this season, shooting 45% from the floor and 35% from 3-point range. He was the No. 23 overall pick in the 2014 NBA Draft to Utah.