The Toronto Raptors are planning to sign Patrick McCaw for the rest of this season for the veteran's minimum of $786,000.

The 23-year-old was most recently waived by the Cavs earlier this week after signing a non-guaranteed 2-year, $6 million deal. 

The NBA is investigating the Cavs for possibility circumventing the salary cap after waiving McCaw. Most league executives are skeptical that the Cavs would be punished.