He signed a non-guaranteed, two-year, $6 million offer sheet with the Cleveland Cavaliers, which Golden State did not match, only to be waived after just three games with his new team.
The Cavaliers waived McCaw on January 6, making him an unrestricted free agent once he cleared waivers.
According to several reports, McCaw is now planning to sign a one-year deal with the Toronto Raptors.
McCaw then played three games for the Cavaliers before they released him ahead of a deadline that would have guaranteed his contract. McCaw cleared waivers and is now an unrestricted free agent. He reportedly turned down a two-year, $5 million deal from the team along with its $1.71 million qualifying offer. Matching the McCaw offer sheet would've elevated the Warriors luxury tax bill $11.3 million to $61.6 million.
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Playing for the Warriors in the 2016-17 and 2017-18 seasons, McCaw averaged 4.0 points in 128 regular-season appearances.
However, it was then reported that the Cleveland Cavaliers, now last place in the East, would offer him said deal.
The Raptors, who waived Lorenzo Brown on Monday, will welcome McCaw as a depth piece.
The NBA is looking into the circumstances surrounding Patrick McCaw's short-lived stint with the Cleveland Cavaliers. No one is exactly sure why the Cavs chose to go through with that plan, but they are being investigated by the league for possibly salary cap circumvention. Under the terms of the deal, McCaw will make the minimum salary (less than he would have made had he stayed with Golden State). Fines could range anywhere between $3-6 million as well as the loss of future first-round draft picks, including their top pick in the upcoming 2019 NBA Draft.