Portland sent the Cavaliers guards Wade Baldwin and Nik Stauskas plus two 2021 and 2023 second-round NBA Draft picks in exchange for Hood, a 26-year-old American who is averaging 12.2 points, 2.5 rebounds and 2.0 assists in 45 games this season for the Cavs.
Hood, 26, joined the Cavs on February 8, 2018 after a three-team trade with the Utah Jazz and the Sacramento Kings.
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Wojnarowski notes that the Blazers could still potentially re-sign him this summer using an exception. As of Sunday afternoon, the Trail Blazers were 32-20 and fourth in the West standings, while the 11-42 Cavs had the third-worst record in the league. It is possible they will deal Alec Burks or J.R. Smith before Thursday's trade deadline.
In his short time in Cleveland, Hood averaged 11.7 points (on 43.2 percent shooting), 2.5 rebounds, 1.8 assists, and 0.8 steals in a total of just 66 games played. Stauskas and Baldwin have expiring contracts. That allowed him to not only become an unrestricted free agent this July, but also afforded him the chance to veto trades that didn't appeal to his interest.
Stauskas, 25, and Baldwin, 22, have not started in a game this season. He will be an unrestricted free agent in 2019 as he signed a one-year qualifying offer with the Cavs in the 2018 offseason.