The Raptors have withdrawn their qualifying offer for free agent guard Jerryd Bayless, making him unrestricted, tweets ESPN.com's Marc Stein. Bayless is now free to agree to sign with any team, without the Raptors having the opportunity to match.
The move doesn't necessarily mean Bayless won't be back in Toronto or that the team has given up his Bird Rights. However, it appeared that to fit the reported deals for Landry Fields and Kyle Lowry under the cap, the Raptors would need to either move Jose Calderon (by trade or amnesty) or renounce Bayless. If the Raps decide to renounce Bayless, they would give up his Bird Rights, greatly reducing their chances of re-signing him.
In 31 games for the Raptors in 2011/12, Bayless averaged 11.4 points and 3.8 assists in 22.7 minutes per game.