Free agent forward Hedo Turkoglu changed his mind Friday and decided not to join the Portland Trail Blazers, opting instead to accept a five-year $53 million offer from the Toronto Raptors, sources told ESPN.com.

The decision left the Blazers livid and was a huge coup for the Raptors, who have promised Turkoglu all of the salary-cap space they will have from renouncing their rights to Shawn Marion, Anthony Parker and Carlos Delfino, which will likely add up to a starting salary in the $10.1 million range, with eight percent annual raises.

The Raptors have until July 7 to renounce Marion, Delfino and Parker, so it remains a possibility and that a sign-and-trade deal could take shape between Toronto and Turkoglu's former team, Orlando. But as of now, it is straight up deal between Turkoglu and Toronto that can be announced July 8.

A source close to the discussions said Turkoglu had given a verbal commitment to the Blazers on Thursday, then alerted the team on Friday morning that he was having second thoughts. By mid-afternoon Pacific time, the Blazers were told the deal was dead and Turkoglu would be signing with the Raptors.

"Portland did everything we asked them to do, and they would be justified if they feel aggrieved. He simply decided Toronto was a better fit," agent Lon Babby said Saturday

Turkoglu will make about $3 million more over the life of the contract than he would have made in Portland, but a bigger reason for his change of heart, a source told ESPN.com, was his desire to play in Toronto, a more international and cosmopolitan city -- one with a large Turkish population -- and his familiarity with the Eastern Conference after having spent the last five seasons with the Magic.

Turkoglu's about-face sent shockwaves throughout the NBA, and parallels were being drawn between his decision and the 2004 episode when Carlos Boozer reneged on a deal to re-sign with Cleveland after they released him from his contract, then stunned the Cavs by signing with Utah. The difference in this case, according to one person with detailed knowledge of the discussions, was that Turkoglu did not intentionally or unintentionally deceive the Blazers, but instead had a change of heart after giving the Blazers his word.