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He’s not known for being overly athletic or a superior defender, but Jason Kapono should provide another potent offensive option for the Raptors.
Jumping into the free-agent market the day it opened, Toronto has reached an agreement in principle to sign the NBA’s top three-point shooter last season to a four-year contract worth in excess of $20 million (all figures U.S.).
“Jason knows it feels good to be wanted,” Kapono’s agent, Bob Myers, said last night. “This is kind of a milestone for him professionally.”
The Raptors can’t officially sign the 26-year-old to a contract until July 11, when a league-imposed moratorium on signings is lifted, and team officials would not comment on the acquisition last night. They also can’t officially put a value on the contract until the so-called mid-level salary cap exception is determined but the deal, whatever it’s worth, will represent a huge increase over the $1.2 million Kapono earned last year with the Miami Heat.
The mid-level exception is expected to be between $5.5 million and $6 million, meaning a Kapono contract that tops $20 million would take almost every available dollar and take the Raptors out of the free agent market for anything more than a low-level signing.
They would still have the bi-annual cap exception of under $2 million to offer a player.
But Kapono did enjoy a breakout season last year, leading the NBA in three-point shooting accuracy at 51.4 per cent and averaging 10.9 points per game, giving Toronto an accomplished outside shooter who would take double-team pressure off post players Chris Bosh and, perhaps, Andrea Bargnani.
“Having a point guard that distributes the ball like T.J. (Ford) does means there’ll be a lot of open shots for him,” said Myers.
The signing does give the Raptors a glut of swingmen and could precipitate more moves
They now have Kapono, Jorge Garbajosa, Joey Graham and Carlos Delfino capable of playing small forward, with Anthony Parker, Juan Dixon and Luke Jackson also able to play the wing positions.
And if there ever was a remote possibility that Morris Peterson would return, it’s now dead. League sources said last night that Utah, Detroit and Denver were serious contenders for Peterson’s services, with a handful of other teams expressing interest as well.

TheStar.com - NBA - Raptors sign Kapono for $20M