Hood still has yet to be released by the Raptors, but it is considered a formality, as is the Bucks signing him once he clears waivers, as Wojnarowski relayed.
Hood, 28, is 6-foot-8 and appeared in 55 total games last season, finishing the season by appearing in 17 of those with the Raptors. He averaged 4.5 points and 1.9 rebounds on the season.
Despite those low numbers, he is a constant threat from the perimeter and should help replace the loss of P.J. Tucker, who signed with the Heat.
Hood has also spent time with the Jazz and Cavaliers, averaging 11.0 points in limited time with the Blazers in 2019-20.