Raptors release Peja Stojakovic

The Toronto Raptors announced Thursday they have released forward Peja Stojakovic. Per team policy, financial details were not disclosed.

“We were clear from the beginning that our trade with New Orleans was made with the future in mind, so a buyout or trade of Peja’s contract was a likely option,” said Raptors President and General Manager Bryan Colangelo. “Although he did not fit into our plan of developing our young core talent, I’m sure that Peja will add significantly to any veteran team that signs him.”

Stojakovic was acquired with Jerryd Bayless from New Orleans on November 20. He appeared in two games with Toronto before being sidelined for the past 26 contests with a sore left knee.

The Raptors roster now stands at 14.

The Raptors continue their five-game road trip Friday at Orlando. Game time is 7 p.m. (TSN/Sportsnet Radio The FAN 590).