The Toronto Raptors announced Wednesday they have released forward Jorge Garbajosa. Per team policy, financial details were not disclosed.

“After a long, difficult and sometimes emotional process stemming from a traumatic injury to a key player, it was concluded that parting ways was the best thing for both Jorge and the Raptors organization,” said Bryan Colangelo, president and general manager of the Raptors. “We wish Jorge nothing but the best with his basketball future.”

Garbajosa was limited to seven games last season after suffering a dislocated left ankle joint with ligament tear and fractured fibula March 26, 2007 at Boston. He had surgery to repair the ankle and fibula March 27, 2007 and surgery on his left ankle December 11, 2007.

The native of Madrid, Spain was signed as a free agent July 21, 2006 following seven seasons in the Spanish pro league and four in Italy.  He finished the 2006-07 season fifth among rookies in rebounds (4.9 rpg) and posted a 1.22 steals-per-turnover ratio. He started 60 of his 67 games, contributing 8.5 points (eighth among rookies) in 28.5 minutes (third) en route to earning T-Mobile All-Rookie First Team honours.

The team also announced that a settlement had been reached with the Spanish Basketball Federation regarding the claim filed by the Raptors in connection with the non-payment of insurance proceeds related to Garbajosa’s injury. Per team policy, financial details were not disclosed.

“We are pleased that an acceptable resolution was reached and we can finally put this behind us,” said Colangelo.