Jrue Holiday will miss the remainder of the season after undergoing surgery on his right tibia.

Holiday appeared in 34 games this season with the New Orleans Pelicans.

Holiday was acquired in a draft night trade with the Philadelphia 76ers.

During a panel at the Sloan Sports Analytics Conference, Bryan Colangelo admitted that the Toronto Raptors were attempting to tank during his tenure.

"Admittedly, I will say I tried to tank a few years ago," said Colangelo.

The Raptors finished the 10-11 season with a 22-60 record (.268 winning percentage) and a 23-43 record in 11-12 (.348 winning percentage).

The Raptors drafted Jonas Valanciunas and Terrence Ross with the picks that came as a result of their record.

Colangelo added that during those seasons he was also trying to develop young players.

Andrew Bynum practiced three-on-three with the Indiana Pacers this week, and Frank Vogel is optimistic the veteran center will be able to play soon.

"The goal is to get him to the point where he's able to play every night," Vogel said. "We don't want him to play one game and sit three games."

Bynum signed with the Pacers as a free agent Feb. 1 and last played Dec. 26 for the Cleveland Cavaliers.

"We know what we can expect from him when he's healthy and in shape. He's one of the best centers in the NBA," Vogel said. "We've seen flashes of that in practice that he's shown here."

The Boston Celtics do not plan to buy out Keith Bogans from his contract.

Danny Ainge discussed the team's plan to keep Bogans on Friday.

Bogans has appeared in only six games this season.

Gustavo Ayon had surgery on Friday to repair a right shoulder injury.

Ayon will now undergo a period of rest, treatment and rehabilitation. He will be out through the remainder of the season.

At the time of his injury, Ayon had averages of 4.3 points on .510 shooting, 4.8 rebounds, 1.1 assists and 1.0 blocks in 16.5 minutes per game in 26 games (14 starts).

Gerald Wallace has been diagnosed with a torn meniscus, the Boston Celtics announced.

Brad Stevens said Wallace has played with pain for some time. Danny Ainge revealed Wallace is out for the remainder of the season.

Wallace is averaging 5.1 points this season.

George Karl and Daryl Morey agreed that you cannot play a slow pace in today's NBA in a panel at the MIT Sloan Sports Analytics Conference. Defenses are just too good, they said, with Morey citing Tom Thibodeau's ability to smother teams deep in the shot clock. The data show clearly that early scores are vital. 

Morey discussed the different use of Dwight Howard by the Houston Rockets. Stan Van Gundy ran set plays for Howard when he was with the Orlando Magic, but he is getting the ball with the Rockets in unpredictable situations and scoring efficiently.

A quick-hitting, fast-thinking attack wins.

Morey recalled reports the Rockets use to run on the effectiveness of different plays called by then-head coach Jeff Van Gundy was with Houston. Above all the set plays was a play categorized as Random, when a play call broke down and a random screen was set to free up a scorer. This was the most effective play.

Karl thought back to the time after the Denver Nuggets acquired Raymond Felton. Karl said he thought Felton was perhaps his best guard at the time but Lawson had the starting job. So to improve Denver's ability to make fast decisions, Karl played them together. Karl believes this may have started a trend in the league of a two-point guard offense. 

The panel discussed fouling up three in the closing seconds. Even though the numbers support taking the foul, it's not done widely. Karl cited a lack of devoted practice time to making sure teams can execute a two-shot foul. 

Morey said you should win the game almost always either way, but cited coaches wanting to show confidence in their defense to stop the three, or just the embarrassment factor of not wanting to give up the three-point foul.  Kobe Bryant was named as one of the best at anticipating the intentional foul and getting off an attempt from behind the arc as the contact is made.

Hank Ratner has been relieved of his duties as president and CEO of Madison Square Garden, the entity that owns the New York Knicks and New York Rangers.

Tad Smith, president of Cablevision Systems Corp., will replace him.

Ratner had been CEO of MSG since 2009, overseeing the $1 billion renovation of the arena.

Quincy Douby has reached agreement on a deal for the remainder of the season with Darussafaka of Turkey, a source tells RealGM.

Douby averaged 28.8 points, 3.7 assists, 4.0 rebounds and 3.7 assists per game in the Chinese CBA this season.

Caron Butler has agreed to sign with the Oklahoma City Thunder.

Butler also strongly considered the Miami Heat.

Butler was bought out this week by the Milwaukee Bucks.