Two days after being released by the Cavs, former Warriors guard Patrick McCaw cleared waivers at 2 p.m. PT on Wednesday.

Also at 2 p.m. PT on Wednesday, multiple national reports stated that McCaw plans to sign with the Toronto Raptors.

Interesting timing.

McCaw was waived by Cleveland on Monday. He appeared in just three games for the Cavs.

Now, according to Yahoo's Shams Charania, McCaw will sign a one-year contract with Toronto for the veteran's minimum of $786,000.

On Tuesday, the Warriors reportedly asked the NBA to review the Cavs' signing and quick release of McCaw. Cleveland signed McCaw to an offer sheet on Dec. 28, and Golden State decided not to match it. But McCaw lasted less than 10 days with the Cavs.

The New York Times' Marc Stein reported that the league's review of the situation involving the Cavs is just beginning.

McCaw will go from the worst team in the Eastern Conference to the top team, although he won't face the Warriors this season -- unless it's in the NBA Finals.

In an interesting sidenote, you could look at this as an Alfonzo McKinnie-for-Patrick McCaw trade, if the former Warrior sticks with the Raptors. McKinnie played in 14 games for Toronto last season, and his Warriors contract became guaranteed Monday.