Raptors' restricted free agent Nando De Colo passed on a two-year offer to return to Toronto, opting instead to sign with CSKA Moscow, per Yahoo Sports.
The Raptors also waived guard Julyan Stone, who had a non-guaranteed contract. Monday was the deadline to complete that move for Toronto.
Toronto extended De Colo a qualifying offer of $1.8 million late last month, making him a restricted free agent. Unless they pull the qualifying offer, they'll retain his rights as an RFA while he's playing in Russia. That allows them to match any offer he receives from an NBA team in the future. Raptors were in a similar situation when Carlos Delfino, an RFA, left to play in Russia after the 2007-08 season. They eventually traded his rights to Milwaukee in the deal that netted them Amir Johnson.
After the signings of Kyle Lowry and Patrick Patterson are made official on Thursday, the Raptors will have $62 million committed to 10 players for next season. That's not including RFA Greivis Vasquez (expected to agree to terms on a new contract in the coming days) or the still-unsigned rookie trio of Bruno Caboclo, Lucas Nogeira and DeAndre Daniels. The contracts of guards Julyan Stone and Dwight Buycks are non-guaranteed if waived prior to July 7 and July 22 respectively.
In 21 games with the Raptors, the Frenchman totalled 3.1 points, 1.6 assists and 1.3 rebounds in an average of 9.2 minutes played.