Wow. It’s done. According to Doug Smith, the league has approved the deal, with one small change - Nate Jawai is now going to Dallas, and Memphis gets a second round Raptors pick in 2016. Quincy Douby will stay here for now.

Hedo Turkoglu will officially be announced as a Raptor at 4pm this afternoon, at which time I’m sure BC will deliver the rest of the details. But as it now stands, it looks like the Raps roster fills out like so…

1. Chris Bosh
2. Andrea Bargnani
3. Jose Calderon
4. Hedo Turkoglu
5. DeMar DeRozan
6. Reggie Evans
7. Antoine Wright
8. Devean George
9. Roko Ukic
10. Quincy Douby
11. Patrick O’Bryant
12. Marcus Banks

Still in flux are Joey Graham and Carlos Delfino; as far as I know, they have not been “renounced” and can still be resigned with their bird rights by the Raptors.

Anthony Parker has not been renounced, but appears to be on the verge of signing in Cleveland.

I’m not sure of the status of Pops Mensah-Bonsu, but I think he is renounced, as is Jake Voskuhl.

As you can see, the Raps have a 12-man roster and, thanks to this deal, can re-sign Graham or Delfino, can add a free agent via the mid-level exception, and can add a second free-agent via the bi-annual exception. They can also add as many veterans-minimum deals as they need.

My initial research indicates that this 12-man Raptor squad comprises just over $57 million - in other words, pretty much right in line with the salary cap.

But what that really means is they are $12 million below the tax threshold - and as they’ve shown, they’re not afraid to use that money.

Let’s say they sign Carlos Delfino for $5 million a year over four years. They can use the some or all of mid-level exception ($5.9 million) on a second player (Matt Barnes? Ramon Sessions?) and the rest, or the bi-annual exception, on another (Rasho?). Bingo, you’re up to 15 players. Of course, they may stick with 14, and try and save a little coin for next year. But the flexibility this deal provides is amazing.

It also provides some small flexibility for next year, since Wright and George will be FAs.

Basically, this sets the Raps up in great shape for this upcoming season, provided that Colangelo uses the remaining money on valuable players. If he gets a 2-3 and a backup 5, this might be the best, most balanced Raptors roster ever assembled. I can’t wait to see what further moves come down the pipeline.

More as it happens…

Quick Update: At Hedo’s presser, BC confirmed there were “more roster moves on the horizon.” Can’t wait…

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