Financial issues may slow Barnes deal to Toronto

Veteran swingman Matt Barnes, one of the most coveted free agents left on the open market, announced Monday night that he is headed to the Toronto Raptors.

But the limited sign-and-trade options available to Orlando -- Barnes' last team -- could scuttle the deal, according to sources close to the situation.

Under the impression that he would be receiving a two-year contract in the $10 million range, Barnes thanked Magic fans via his Twitter feed and said that he'll be "playing for the Toronto Raptors" next season.

Sources told ESPN.com that the teams will resume discussions Tuesday, as planned all along, with the intent of landing Barnes with the Raptors via sign-and-trade.

Yet no such deal could be assured as of midnight, raising the possibility that Barnes would have to accept new terms to sign with the Raptors or that other teams that have been chasing Barnes will get another shot at him if the deal collapses.

Since Toronto recently spent the bulk of its $5.8 million mid-level exception to sign Linas Kleiza, it doesn't have the available funds to sign Barnes outright to a deal that starts in the neighborhood of $4 million.