The roster shakeup was as much about freeing up financial flexibility and ending a partnership that never panned out, as it was about bolstering the lineup of a 21-34 team for a late-season push.

The Raptors, five games behind Milwaukee for the eighth and final Eastern Conference playoff spot, also gave up a conditional draft pick, and received cash in return.

"We obviously have time to make a run for the playoff position we're seeking,'' said Colangelo in a conference call. "This transaction makes us better and more competitive immediately as we move toward the playoff race.

"This is as much about right now as it is about the future.''

O'Neal, a six-time all-star, joined the Raptors amid much fanfare following an off-season trade that sent T.J. Ford and Rasho Nesterovic to the Indiana Pacers.

Toronto hoped to assemble a powerhouse front line with all-star forward Chris Bosh, but O'Neal has been slowed by injuries and the two never really meshed.

With the emergence of Italian centre Andrea Bargnani, chosen first overall in the 2006 draft, O'Neal was suddenly dispensable.

"In retrospect I don't want to say the Jermaine O'Neal deal was a complete failure,'' said Colangelo. "But I think our team has not performed at the level this year it could have and should have.''

The 30-year-old averaged 13.5 points and seven rebounds for Toronto, but the 6-11 centre missed 14 games with an injury to his right knee, the opposite knee that kept him out of 42 games last season with Indiana.

The trade will give the Raptors some financial breathing room this summer, when Marion's $17.8-million US contract comes off the books, plus the promise of much-needed defence and rebounding at the small forward position.

Marion, who could play Wednesday when the Raptors host the Cleveland Cavaliers, arrives in Toronto on the heels of one of his best games with the Heat.

Thursday night, the 30-year-old who was acquired by Miami just over a year ago from Phoenix for Shaquille O'Neal, took a bounce pass from Dwyane Wade and dunked with 1.1 seconds left to lift Miami to a 95-93 win over the Chicago Bulls.

Marion's versatility earned him the nickname The Matrix during his eight seasons with the Suns.

He's averaged 12 points and a team-best 8.7 rebounds and started 36 games this season.

"Shawn is a four-time all-star, he is a very capable player,'' Colangelo said. "He is a piece that should be given an opportunity to fit in this team and considered a part of the Raptors' future. He is not a rental player, that is not the case here.

"There's a lot of Basketball left in Shawn Marion.''

Over 10 seasons with Phoenix and Miami, Marion has averaged 17.9 points and 10.0 rebounds. He finished in the top 10 in the NBA in rebounds and steals on seven occasions, and was named a Western conference all-star in 2003, '05, '06 and '07.

The trade frees up significant room under the salary cap this summer for the Raptors to shore up a squad that has been bounced from the NBA playoffs in the first round the last two seasons, and went into this weekend's all-star festivities in Phoenix second last in the Eastern Conference.

The Raptors are also looking ahead to 2010, when Bosh will join a stacked free agent class.