Five teams remain in the running to sign free-agent forward Matt Barnes, according to sources.

The Raptors are still one of those teams, despite the unlikelihood of a sign-and-trade with the Magic that Barnes thought would be completed by now.

In addition to the Raptors, Barnes is weighing interest from the Cavaliers, Heat, Celtics and Lakers.

Barnes announced on his Twitter feed Monday night that he was headed to Toronto, but the deal feel through when it became apparent that the Magic had limited sign-and-trade options.

"It's something we've discussed and talked about," Magic general manager Otis Smith told the Orlando Sentinel on Tuesday when asked about the sign-and-trade talks with Toronto.

"At this point nothing has happened," Smith continued, "and I don't really anticipate anything happening."