JULY 20TH, 9:16am: The first year of Hansbrough's deal in Toronto is worth $3.2MM while the non-guaranteed 2014/15 season could pay $3.32MM, according to Eric Pincus of HoopsWorld (via Twitter).
JULY 15TH, 2:49pm: The Raptors have officially signed Hansbrough, the team announced today (Twitter link).
JULY 12TH, 9:46am: The second year of Hansbrough's deal will be partially guaranteed, according to Mark Deeks of ShamSports.com (via Twitter).
JULY 10TH, 9:58am: Ryan Wolstat of the Toronto Sun tweets that Hansbrough will earn about $3MM in his first year with the Raptors, while Steve Kyler of HoopsWorld writes that the forward will earn roughly $3MM per season with Toronto. So it sounds like the deal will be worth in the ballpark of $6MM overall.
JULY 9TH, 7:44pm: Tyler Hansbrough has agreed to terms on a contract with the Raptors, according to a tweet from Yahoo! NBA reporter Marc J. Spears. Rumblings of a possible deal were first reported by ESPN.com's Marc Stein.
After spending the first four years of his career in Indiana, the Pacers rescinded Hansbrough's qualifying offer this summer so they could afford re-signing David West. Hansbrough is a career 42.7% shooter who averaged a career-worst 7.0 PPG last season.
Hansbrough's deal will be for two years, and will come out of the team's mid-level exception, according to the Toronto Sun's Ryan Wolstat.