Magic free agent forward Hedo Turkoglu might not be signing with the Portland TrailBlazers after all.

"The Oregonian has learned that free agent forward Hedo Turkoglu has rejected an offer to sign with the Trail Blazers and has ended negotiations with the team."

The deal was rumored to be for around 5 years and $50 million.

The other team rumored to be in the running for Turkoglu is the Toronto Raptors with a longshot chance that Orlando foots a large Luxury Tax bill and brings Turkoglu back.