Paul's second Clippers tenure ends as he lands in Toronto.
The Los Angeles Clippers have finally moved on from Chris Paul.
The Clippers, Raptors, and Nets agreed on a three-team trade on Wednesday that sends the future Hall of Fame point guard to Toronto.
The deal also sends Ochai Agbaji and a 2032 second-round pick to Brooklyn, while the Clippers receive the draft rights to Vanja Marinkovic from the Nets.
The Clippers will send $3.5 million in cash to Brooklyn as part of the deal, according to ESPN's Shams Charania.
Toronto is not expected to require Paul to report to the team and could still discuss trades involving him before Thursday's deadline.
If no deal materializes, the 40-year-old will likely be waived.
This marks the end of Paul's second stint with the Clippers, as he originally played for the franchise from 2011 to 2017 during the "Lob City" era alongside Blake Griffin and DeAndre Jordan.
Financial Implications
This trade is all about money for every team involved.
The Clippers (23-26) clear a roster spot and save approximately $7 million in luxury tax with this move.
More importantly, the deal creates enough breathing room below their hard cap to convert two-way players Jordan Miller and Kobe Sanders to standard contracts.
Both players have been key contributors during the Clippers' turnaround, and their emergence has forced the front office to prioritize keeping them.
Miller and Sanders were approaching their active-game limits on two-way deals, so the Clippers had to act.
With Paul's contract off the books, Los Angeles now sits $3.4 million below the first apron, giving them enough space to sign both players to guaranteed deals.
For the Raptors (30-21), the trade gets them under the luxury tax line. Toronto picks up Paul's minimum salary but sheds Agbaji's $6.4 million deal.
Brooklyn gets a free player in Agbaji since the cash covers his salary, plus a future draft pick. The Nets sit at 13-35 as they continue their rebuild.
The End of a Messy Situation
Paul's return to the Clippers was supposed to be a feel-good story. The 12-time All-Star signed a one-year, $3.6 million veteran minimum contract in July with plans to retire after the 2025-26 season and finish his career in Los Angeles.
Things went sideways quickly though. Paul last played on December 1 in a loss to the Miami Heat, where he logged eight points and three assists in 15 minutes.
After that game, the Clippers sent him home and announced they were "parting ways" with him, reportedly due to clashes with head coach Tyronn Lue.
In 16 games this season, Paul averaged career-lows of 2.9 points and 3.3 assists in just 14.3 minutes per game.
The numbers told the story of a player whose skills had diminished significantly, even as the team's recent turnaround proved they could succeed without him.
What Comes Next
If the Raptors cannot find a trade partner before Thursday's 3 p.m. ET deadline, they will almost certainly waive Paul, allowing him to sign with any team.
The Dallas Mavericks have been mentioned as a potential landing spot given Paul's offseason connection with rookie Cooper Flagg.
For the Clippers, this trade clears the way for them to invest in their young core.
Miller and Sanders have both proven they belong in the rotation, and locking them up gives Los Angeles a foundation to build around alongside Kawhi Leonard and newly acquired Darius Garland.