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Raptors Waive Chris Paul to Gain Cap Space

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  Published in Sports and Competition on Friday, February 13th 2026 at 19:36 GMT by Sporting News
      Locales: CANADA, UNITED STATES

The Salary Cap Squeeze and Raptors' Future

Chris Paul's current contract details are at the heart of the matter. He's owed $30 million for the 2023-24 season and holds a player option for $37 million in 2024-25. For a team like the Raptors, navigating the complexities of the NBA salary cap, this represented a significant financial burden, especially given the team's current roster situation. The Raptors are facing a critical juncture with several key players - Pascal Siakam, Fred VanVleet, and OG Anunoby - all potentially hitting free agency this summer. Re-signing all three would be financially challenging, if not impossible, under the current cap constraints. By waiving Paul, Toronto immediately freed up substantial cap space, giving them greater leverage in negotiations and allowing them to explore multiple avenues this offseason.

This isn't a rejection of Paul's talent. At 38, he remains a highly skilled and experienced floor general. However, his age and considerable salary don't align with the Raptors' apparent desire to rebuild around a core of younger, more cost-effective players. The team seems to be prioritizing long-term sustainability over immediate gains, acknowledging that contending for a championship with a bloated payroll is rarely a viable strategy in the modern NBA.

Clippers Take on the Financial Responsibility

The Clippers, eager to bolster their playoff push, willingly absorbed Paul's contract following the Suns' facilitation. This move followed their own significant transaction, dealing Russell Westbrook to the Utah Jazz in a three-team trade involving the Los Angeles Lakers. The Clippers are clearly betting on Paul's veteran leadership and playmaking abilities to stabilize their backcourt alongside Kawhi Leonard and Paul George. They believe Paul offers a level of control and experience that Westbrook, despite his athleticism, often lacked. The Clippers' willingness to take on the financial commitment showcases their championship aspirations and their belief in Paul's ability to contribute to a contending team.

Raptors' Rebuild: A New Direction

The Raptors' decision to waive Paul isn't just a cap-clearing maneuver; it's a clear signal of intent. They are signaling a pivot towards a rebuild, or at least a significant retooling of the roster. While they haven't explicitly announced a full-scale rebuild, the financial implications of this move strongly suggest a long-term vision focused on developing young talent and building a team that can compete sustainably for years to come.

This strategy allows them to explore options like drafting promising young players, developing existing assets like Scottie Barnes, and potentially acquiring players through trade who fit their timeline and budget. They might also consider allowing some of their free agents to walk, creating even more cap space for future acquisitions.

The Broader NBA Landscape

This series of transactions also highlights the increasing importance of financial management in the NBA. Teams are no longer solely focused on acquiring talent at any cost. They are meticulously analyzing contracts, cap space, and long-term projections to ensure they remain competitive while maintaining financial health. The Raptors' move is a prime example of this trend, demonstrating that sometimes the most valuable asset isn't a star player, but the flexibility to make strategic decisions in a complex financial landscape.

Ultimately, the Raptors' gamble on financial flexibility may prove to be a shrewd move, positioning them for a brighter future despite parting ways with a proven veteran. While it may take time for the full effects of this decision to be felt, the Raptors are clearly laying the foundation for a new era in Toronto basketball.