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Raptors waive veteran G Chris Paul

(Photo credit: Mark J. Rebilas-Imagn Images)

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.

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