The Toronto Raptors officially confirmed on Tuesday that they have waived Quentin Richardson. Toronto acquired Richardson by way of sign and trade from New York on July 10 as part of the Knicks trade for Andrea Bargnani. Richardson was never expected to report to Toronto.
The Raptors roster now stands at 14 players and the team stands approximately $1.7 million below the NBA luxury tax threshold and $5.7 million below the team’s hard salary cap of $75.7 million for this season.
Toronto still has their $2 million Bi-Annual exception and a $1.2 million trade exception available.