"It was a very difficult decision because Jarrett proved last season what he can bring to a team," Pacers president Larry Bird said in a statement released by the team. "We thank Jarrett for his contributions to the Pacers, both on and off the court, and wish him the best in Toronto."

The Raptors signed the restricted free agent to an offer sheet on July 13, giving the Pacers a week to match the offer. Jack, who played with Raptors star Chris Bosh at Georgia Tech, averaged a career-high 13.1 points, 3.4 rebounds and 4.1 assists last season.

MOON LANDING: The Cleveland Cavaliers have confirmed their pursuit of restricted free agent forward Jamario Moon, who finished last season with Miami.

The Heat have seven days to match Cleveland's contract offer to the 29-year-old former Raptor . The Cavs announced the offer yesterday but did not release terms.

Miami is not expected to match Cleveland's offer.

EASING THE BUYOUT BLUES: The only thing keeping Ricky Rubio from joining the Minnesota Timberwolves right now is a multimillion-dollar buyout from his professional contract in Spain.

The price tag could reach $6.6 million. That's enough to make any 18-year-old think twice about chasing his dream of playing in the NBA. But several sports marketing experts say a move to the U.S. could bring Rubio millions in endorsements to help offset the buyout.

Meanwhile, the Timberwolves traded Sebastian Telfair and forwards Mark Madsen and Craig Smith to the Los Angeles Clippers for Quentin Richardson.

CUBAN IN HOT WATER: Dallas Mavericks owner Mark Cuban is accused of wrongfully diverting millions of dollars from the NBA franchise's home arena to help make up for cash shortfalls incurred by the team, according to a lawsuit filed by a company controlled by the team's former owner.

The lawsuit claims Cuban covered the Mavericks' financial shortfalls by obtaining more than $29 million in unauthorized loans through a limited partnership designed to distribute profits from the arena, the American Airlines Center.

WALKER IN COURT: Former NBA all-star Antoine Walker appeared briefly in a Las Vegas court to face criminal charges in a case involving a $822,500 casino gambling debt.

Walker said nothing inside or outside the courtroom as he appeared on three felony counts of writing bad cheques.

Star wire services