According to ESPN's Marc Stein, the sign-and-trade that was supposed to send Matt Barnes north of the border has hit a snag. Despite his announcement Monday night, Barnes' ability to sign with the Raptors is contingent on the execution of a sign-and-trade agreement. Toronto's already used most of their mid-level exception to sign Linas Kleiza, making it impossible for them to pay Barnes' 2-year, $10 million contract without the help of Orlando.
And while that initially looked like a footnote, now it's become the story. From ESPN:
...No such deal could be assured as of midnight, raising the possibility that Barnes would have to accept new terms to sign with the Raptors or that other teams that have been chasing Barnes will get another shot at him if the deal collapses.
It's not over yet, but the financial limitations of both Toronto and Orlando, who can't start a sign-and-trade any higher than $2 million, mean that engineering this trade successfully will take some creativity. And if it falls through somehow, it'd be the second time this summer that Toronto GM Bryan Colangelo has had a deal collapse at the last possible moment.
And perhaps more important, it'd mean Matt Barnes, a highly attractive role player for a handful of contenders, is back on the open market. Stay tuned.