The Toronto Raptors announced at a press conference Tuesday that they have signed unrestricted free agent C.J. Miles.
The deal is reported to be for three years and $25 million, with the third year a player option. The Raptors made way for the move by officially trading Cory Joseph into the cap space of the Indiana Pacers on Friday. As we’ve covered far too much already, the deal was initially reported as a sign-and-trade for Joseph, and while the different sequencing of the parts of the deal look worse from an optics perspective, they accomplish more or less the same thing (I’m not going to dive into the minutiae again).
You can find all of the details and reaction here, and an explanation some of the difficult salary cap gymnastics at play here. And read more about Miles’ terrific fit on offense here.
The Raptors’ roster now stands at 14, plus a two-way player and an Exhibit 10. They have $117.3 million in committed salary but $120.6 million earmarked for luxury tax apron calculations. They’re hard-capped at $125.3 million for the season but still have access to their bi-annual exception and minimum contracts and own a pair of trade exceptions.
Masai Ujiri also mentioned that the team will add more pieces but that they could just be non-guaranteed deals. Video shortly.
