Raptors Agree to Push Back Rodney Hood's Contract Guarantee Date
With trade rumors swirling these days, the Toronto Raptors have made a decision to keep Rodney Hood around for a little bit longer.
Toronto originally had until Tuesday night to make a decision on Hood's $10.9 million non-guaranteed contract for next season, but the two parties have agreed to push back that deadline to August 3, the team announced Tuesday. While Hood is likely to be waived eventually, the added flexibility buys Toronto a little bit more time to work out a trade involving Hood.
Considering Toronto is reportedly looking to acquire a star player this summer, keeping Hood around for a few more days should make things a little bit easier. For example, the Raptors can now use Hood's contract in a deal for someone like Damian Lillard, Bradley Beal, or Ben Simmons, allowing the acquiring team to take on what essentially will be vanishing money. Hood's contract will more easily allow the teams to navigate the financial restrictions of the trade while also allowing whoever receives Hood to create a little bit of cap space.
The Raptors are in a similar situation with Aron Baynes and his $7.4 million non-guaranteed contract that is set to guarantee on August 5. Should Toronto need some extra contract to make a trade work, the Raptors can throw in Baynes and Hood to create approximately $18 million in salary.