The Pacers and Raptors have completed a trade that will send Leandro Barbosa to Indiana in exchange for a second-round draft pick and cash considerations, both teams announced today.
While recent reports suggested the Raptors likely wouldn't make any major moves at the deadline, GM Bryan Colangelo said last month that Barbosa was drawing interest. When I examined the shooting guard as a trade candidate, I suggested that the Pacers could acquire him without compromising the team's long-term plans. Indiana has the cap space to absorb Barbosa's 2011/12 $7.6MM cap figure, and can simply let his contract expire at season's end.
Acquiring Barbosa will leave the Pacers about $6.7MM under the cap this season, taking them out of the running for players like Chris Kaman. The Raptors, meanwhile, should receive a traded player exception worth $7.6MM, which they'll have a year to use.
Marc J. Spears of Yahoo! Sports (on Twitter) first reported the deal, with TNT's David Aldridge (via Twitter), ESPN.com's Chris Broussard (via Twitter), and Mike Wells of the Indianapolis Star adding details along the way.