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Raptors Waive Chris Paul Days After Trade

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  Published in Sports and Competition on Saturday, February 14th 2026 at 1:58 GMT by Sporting News
      Locales: CANADA, UNITED STATES

Toronto, ON - February 14th, 2026 - Just days after a surprising trade brought veteran point guard Chris Paul to Toronto, the Raptors stunned the NBA world once again by waiving the 38-year-old. The whirlwind series of events leaves many asking: why acquire Paul only to release him almost immediately? The answer, as sources within the organization confirm, lies squarely in the Raptors' long-term financial strategy and commitment to building a team capable of sustained contention.

The trade itself, a three-team deal involving the Los Angeles Clippers and Washington Wizards, appeared curious at the time. Toronto sent out young guard Malachi Flynn, veteran big man Khem Birch, forward Otto Porter Jr., and a valuable 2024 first-round draft pick in exchange for Paul and a complex web of draft considerations involving Washington. While Paul brings a wealth of experience and undeniable playmaking ability, his substantial contract presented an immediate hurdle for the Raptors' front office.

Paul's $30.1 million salary for the 2023-24 season (and a player option for 2024-25) doesn't align with the Raptors' current trajectory. The team is clearly aiming to balance veteran leadership with the development of its promising young core - players like Scottie Barnes, Pascal Siakam (although his future remains a key talking point), and OG Anunoby. Adding a high-priced veteran like Paul, while potentially improving their short-term playoff chances, would severely limit their ability to re-sign or acquire other key pieces in the coming years. This is especially critical given the rising salaries across the league and the competitive landscape of the Eastern Conference.

According to multiple sources, the Raptors communicated the potential outcome to Paul before he even agreed to waive his no-trade clause. This transparency and mutual understanding were crucial in facilitating the entire process. Paul, recognizing the financial constraints and appreciating the Raptors' willingness to grant him freedom to pursue a more favorable situation, cooperated fully. His decision to waive the clause and accept the eventual waiver demonstrates a level of professionalism rarely seen in the modern NBA.

"This wasn't about Chris Paul the player," stated a team insider, speaking on condition of anonymity. "Chris is a fantastic basketball mind and a proven leader. This was purely a business decision. We needed to clear cap space and maintain flexibility to build a team that can compete at the highest level for years to come. We couldn't do both with his contract on the books."

The immediate impact of the move is significant. By removing Paul's salary, the Raptors gain substantial cap relief, opening up opportunities to pursue free agents or make further trades. This newfound financial flexibility could prove crucial in the upcoming offseason, particularly if key players like Siakam or Anunoby become available in trade discussions. The Raptors are reportedly targeting a defensive-minded wing player and a reliable three-point shooter in the offseason, and this cap space will allow them to be competitive in the market.

Paul is now a free agent and is widely expected to sign with a contending team. Several reports link him to the Boston Celtics, the Milwaukee Bucks, and potentially even a reunion with the Phoenix Suns. The expectation is he'll seek a team ready to make a deep playoff run, something the Raptors, in their current rebuilding phase, couldn't guarantee.

The Raptors' handling of the situation has been praised by many around the league. They avoided a potentially messy standoff, respected Paul's wishes, and positioned themselves for future success. While the initial trade raised eyebrows, the subsequent waiver demonstrates a clear and calculated strategy. Toronto is betting on building through a combination of internal development and strategic acquisitions, and Chris Paul, unfortunately, didn't fit into that long-term vision. The coming months will reveal whether this financial maneuver proves to be a shrewd move for the Raptors' championship aspirations.