by Doug Smith, Toronto Star , The Toronto Star

The Raptors will officially introduce their most significant free agent signing in years either today or tomorrow, depending on how president and GM Bryan Colangelo does in creating extra financial flexibility in a move or two he's still trying to make.

According to NBA sources, Colangelo spent most of yesterday trying to facilitate any number of sign-and-trade transactions that might benefit Raptors' players who leave by allowing them a larger starting salary and greater annual raises.

In order to clear enough cap room to finalize the five-year, approximately $53 million (all figures U.S.) deal Colangelo has with Turkoglu, the GM must get Shawn Marion, Anthony Parker and Carlos Delfino off the books. It's unclear whether he'd have to "renounce" (release) anyone else to create the space.

The Dallas Mavericks are one of the known suitors for Marion but league sources say Colangelo was casting a wide to net to try and work something. There were suggestions Colangelo was trying to expand any deal to include another player - perhaps Marcus Banks - but league sources say Colangelo won't do anything to add salary.

Today could turn out quite uneventful if Colangelo is unable to finalize deals. It would mean simply renouncing players and announcing the Turkoglu deal.

Lifting the NBA's free agent moratorium will also open the floodgates on a host of signings that have been reported but not finalized.

Along with the Turkoglu to Toronto transaction confirmed by Turkoglu's agent last Saturday, Chicago's Ben Gordon and Milwaukee's Charlie Villanueva will officially become members of the Detroit Pistons, Rasheed Wallace will join the Celtics, Ron Artest will move to the Los Angeles Lakers, Trevor Ariza will go from the Lakers to the Rockets and Jason Kidd will be re-signed by Dallas.

Other transactions may take a while to be finalized since any restricted free agent can only sign an offer sheet with a new team and his former team will have up to seven days to match it.

The NBA announced the salary cap at $57.7 million last night and the tax threshold at $69.92 million for the 2009-10 season.

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