Raptors Buy Out Peja Stojakovic
The Toronto Raptors announced today they bought out the expiring contract of 12-year veteran three-point specialist Peja Stojakovic. Stojakovic was in the final year of a five-year contract he had signed with the New Orleans Hornets for over $62 million in 2006.
Since signing with New Orleans, Stojakovic has missed 148 games over four-and-a-half seasons due to injury.
After appearing in only six of the Hornets first 11 games this season, Stojakovic was traded to Toronto along with Jerryd Bayless for David Andersen, Marcus Banks, and Jarrett Jack on November 20, 2010. Stojakovic played in two games for Toronto before being sidelined by swelling in his left knee.
{AUTHOR_BOX}It was widely assumed Raptors President and General Manager acquired Stojakovic with the intention of making another deal later in the season or buying out the veteran’s contract to clear another roster spot. With the Raptors roster currently decimated by injuries to their wings, and Stojakovic still unable to contribute, this move opens up another roster spot to bring in a 10-day contract player, sign a free agent, or facilitate a multi-player trade.
There is nothing to indicate that the injury Stojakovic’s knee will not improve with rest and Stojakovic could end up on a playoff contender in need of outside shooting for the balance of the season (Dallas appears to be at the top of the list).
In his two games in Toronto, Stojakovic was 7-10 from the field and 4-6 from three-point range. His shooting stroke appeared to be as smooth as ever.
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