The Cavs extended a qualifying offer to Harangody, making him a restricted free agent and giving them the opportunity to match any other offers he received in free agency.
Instead, Harangody quickly signed the offer sheet.
Harangody, 24, split last season between Cleveland and its Development League team in Canton.
Harangody averaged 2.9 points and 2.5 rebounds in 21 games (one start) with the Cavs.
Lakers acquire guard Nash
Steve Nash’s agent Bill Duffy says the two-time MVP point guard is going to the Los Angeles Lakers in a sign-and-trade deal with the Phoenix Suns.
The 38-year-old Nash agreed to a three-year, $27 million contract. In return, the Suns get four draft picks — first rounders in 2013 and 2015 and second rounders in 2013 and 2014.
Gordon agrees with Suns
Restricted free agent guard Eric Gordon agreed to a four-year deal with the Phoenix Suns worth about $58 million, a person familiar with the talks told the Associated Press. The New Orleans Hornets have the right to match the deal and keep Gordon.
Gordon told the Republic after his meeting with the Suns that “Phoenix is where my heart is now” and he hoped the Hornets would not match the offer. The Suns can sign Gordon to the offer sheet on July 11, and New Orleans would have three days to match.
Warriors meet with Roy
The Warriors met with free-agent guard Brandon Roy, according to league sources.
Roy, 27, was amnestied last offseason after persistent knee issues prompted him to retire. But Roy announced his desire to return to the NBA recently, and is drawing interest from five or six teams.
Hawes, Sixers agree to deal
The Philadelphia 76ers agreed in principle on a two-year, $13 million deal with center Spencer Hawes. Hawes can’t officially sign the deal until the league lifts the moratorium on signing contracts on July 11.