Hornets and Raptors Agree to 5-Player Trade Including Peja Stojakovic

The New Orleans Hornets and Toronto Raptors have agreed in principal to a five-player deal that will send Peja Stojakovic and Jerryd Bayless to Toronto and Jarrett Jack, David Andersen and Marcus Banks to New Orleans.

ESPN.com first reported the trade.

New Orleans will also be sending cash to the Raptors, which is actually what held up the deal from being completed on Friday night. The amount is what was still under negotiation.

Bayless actually has a restriction on him that prevents him from being included in any multi-player deals prior to Dec. 23. That date marks two months from which the Hornets acquired him from Portland. Therefore, this deal will likely end up as two separate trades.

Stojakovic has played sparingly over the past couple years due to various injuries and fell out of the starting rotation this season under rookie head coach Monty Williams. The small forward is in the final year of his contract and will earn $14.25 million this season.

Bayless has truly started to come around in the backup spot behind starter Chris Paul, but the Hornets are a team loaded with backcourt talent.

Perhaps the most profitable acquisition for the Hornets will be that of Jarrett Jack, who has started all 13 games for the Raptors so far this season, but has still been splitting time with Jose Calderon. Jack has averaged 10.8 points and 4.5 assists in 26 minutes per game.

Andersen is a backup center that will probably see very little time at yet another spot the Hornets are particularly deep at.

Read more from Danny Cox at Examiner.com.