The Toronto Raptors waived 12-time All-Star guard Chris Paul on Friday.

The move was expected after Toronto acquired Paul from the Los Angeles Clippers as part of a three-team deal with the Brooklyn Nets at last week’s trade deadline. The trade for Paul, in the eyes of the Raptors, was done for financial reasons.

Paul, 40, plans to retire at season’s end.

Signed to a one-year, $3.6 million contract last offseason, Paul rejoined a Clippers franchise with which he spent six seasons from 2011-17. This season, he averaged 2.9 points, 3.3 assists and 1.8 rebounds in 16 games off the bench. He has not played in a game since Dec. 1.

Paul ranks second in NBA history in assists with 12,552 and second in steals with 2,728, trailing only Basketball Hall of Famer John Stockton in both categories.

Paul, then with New Orleans, was named Rookie of the Year in 2006. He is a four-time All-NBA first-team selection, five-time NBA assists champion and six-time steals champion. A member of seven first-team All-Defensive teams, he also was the MVP of the 2013 All-Star Game.

Paul won Olympic gold medals with the United States in Beijing in 2008 and London in 2012 and was named to the NBA’s 75th anniversary team in 2021.

He played with New Orleans for six seasons, then was traded to the Clippers in 2011. He later played for the Houston Rockets (2017-19), Oklahoma City Thunder (2019-20), Phoenix Suns (2020-23), Golden State Warriors (2023-24) and San Antonio Spurs (2024-25).

Paul has career averages of 16.8 points, 9.2 assists, 4.4 rebounds and 2.0 steals in 1,370 games (1,314 starts). He has not won an NBA title, getting to the Finals only once when his Suns lost to the Milwaukee Bucks in 2021.

–Field Level Media