Few teams have overhauled as much this off-season as the Pacers, and Joseph provides them with a relatively affordable rotation player. While Joseph struggled at times last season filling in as a starter for the Raptors, he's an above-average talent who can help Indy at least be competitive (especially on the defensive end).

With this move the Raptors shave roughly $7.6 million off the payroll, and they can use those funds to sign former Pacers swingman C.J. Miles. The recent dumping of the contract of small forward DeMarre Carroll saved Toronto in the neighborhood of $15 million, and Miles is expected to be Carroll's replacement. The $15 million savings is key, since Toronto was pushed to luxury tax range with the recent re-signings of stars Kyle Lowry and Serge Ibaka. The rights to Preldzic are likely just a throw-in because the NBA requires both teams to receive at least one asset in any trade; Preldzic is an aging player in Europe who likely won't ever join the NBA.

Joseph might push new projected Pacers starting point guard Darren Collison, and he should regardless be a rotation player for Indy (so he's fantasy-relevant for next season). His arrival obviously hurts Collison's middling fantasy value. On the Raptors, look for young guards Delon Wright and Fred VanVleet to see increased minutes as potential backups to Lowry at point guard.