The Toronto Raptors bought out the remainder of Peja Stojakovic’s contract on Thursday.

“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,” Raptors president and general manager Bryan Colangelo said in a statement. “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.”

The Mavericks, Hornets and Lakers are all expected to be interested in Stojakovic.