“Norman accomplished so much with the Raptors. He committed to the process, he worked on his game, he grew as a person, and he thrived as a player,” Raptors president Masai Ujiri said in a statement. “Norman gave us great performances to remember. Norman is an NBA Champion, and he has earned his place as one of the great success stories in franchise history. We are grateful for everything he did for our team and our city.”
Powell is enjoying a career season, averaging 19.6 points over 42 games (31 starts). That production, along with his 44 per cent mark from three-point range, enticed a large portion of the league, with upwards of a dozen teams reportedly interested in trading for him.
The 27-year-old has spent his entire career with the Raptors after being acquired from the Milwaukee Bucks on draft day in 2015. Since then, he's developed into a legitimate wing scoring threat that can be utilized in the starting lineup or as a spark plug off the bench.
Powell is likely to hit free agency at the end of this season. He has an $11.6-million player option for 2021-22 but would almost certainly find a more lucrative offer on the open market.
In Trent, the Raptors add a young wing player with a similar skill set to Powell. The 22-year-old has appeared in 41 games (23 starts) for the Blazers this season, averaging 15 points. He is scheduled to hit restricted free agency this summer.
Hood, 28, is a veteran piece who provides solid three-point shooting. He has struggled in 2020-21, averaging just 4.7 points per game — well below his career mark of 11.7.