The Raptors have officially signed free agent swingman C.J. Miles, the team announced today in a press release. Miles’ deal with Toronto was originally reported more than a week ago, though when the story first broke, it appeared it would be a sign-and-trade. Instead, the Raptors have signed Miles outright.
“C.J. is an exceptional shooter and adds versatility to our perimeter game,” Raptors president Masai Ujiri said in a statement. “We are excited to add a player with experience level to our core group.”
Initial reports on Miles’ three-year, $25MM agreement with the Raptors suggested that Cory Joseph would be headed to Indiana in the swap. However, because Miles’ deal reportedly includes a third-year player option, it wasn’t eligible for a sign-and-trade — contracts in a sign-and-trade must run at least three years without options.
In order to get around that CBA restriction and to clear the salary necessary to bring Miles aboard, the Raptors sent Joseph to Indiana in a separate deal, and will sign Miles using their mid-level exception. Toronto would have faced a hard cap for 2017/18 either way, as we explained earlier today.
Miles, 30, will will help provide depth and outside shooting on a Raptors team that lost P.J. Tucker and DeMarre Carroll this summer. A 12-year veteran, Miles is coming off another productive season — in 76 games for the Pacers, he averaged 10.7 points and 3.0 rebounds, and shot a career-best 41.3% on three-pointers. He will be getting a nice raise from the $4.58MM he earned in 2016/17.
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