Toronto had to waive a player in order for their seven-player trade with the Sacramento Kings to be approved. The team had a full 15-man roster before sending three players to the Kings in exchange for four new ones.
Augustin signed with the Raptors in July after a disappointing individual season as the backup for the Indiana Pacers. In 10 appearances with Toronto, Augustin averaged 2.1 points and one assist in just 8.2 minutes per game. Augustin was unable to separate himself from fellow backup point guards Dwight Buycks and Julyan Stone, and received DNP-CD's in all of the Raptors' last five games.
Once seen as a starting-caliber floor general, the No. 9 overall pick in the 2008 draft has had a swift decline in production since leaving the Charlotte Bobcats two seasons ago. He shot just 35 percent from the field last year and 29.2 percent for the Raptors, never able to find his rhythm in limited playing time under head coach Dwane Casey.