Portland's loss looks to be Toronto's gain.
According to the Globe and Mail, Hedo Turkoglu has agreed to terms on a five-year contract with the Toronto Raptors. The deal is reportedly worth around $56 million.
The reported signing comes hours after the sharp-shooting forward's contract talks with the Portland Trail Blazers broke off on Friday night.
The Oregonian newspaper originally reported Turkoglu agreed to a five-year, $50 million contract with Portland, but later in the day indicated that Turkoglu had rejected such an offer.
The 30-year-old Turkoglu, a first-round draft pick of Sacramento in 2000, had spent the previous five years with the Magic and averaged 16.8 points, 5.3 rebounds and 4.9 assists over 77 games last season. He helped the Magic into the NBA Finals, but last week opted out of the final season of his deal that would have paid him $7.3 million.
Not only that, but the Magic already made a big move to replace Turkoglu by working out a trade with New Jersey for Vince Carter on draft night.
The 6-foot-10 Turkoglu spent his first three seasons with the Kings before joining the San Antonio Spurs for one seasons. For his career, he's averaging 12.3 points and 4.2 rebounds and is a career 38.5 percent shooter from three- point range.