According to Ken Berger, the Toronto Raptors are close to signing an offer sheet for Jarrett Jack which will force the Pacers to match the terms or lose Jack. Unfortunately, the terms of the offer are unknown at this time but anything over $3.5 million per year will do the trick. Bummer on many levels, but if the offer is too high for the Pacers then congrats to Jack, he earned it last year.
UPDATE: Mike Wells heard from Jarrett Jack who didn't relay the final numbers but did say the offer is expected to be for a four-year contract.
UPDATE II: Whoa! David Aldrige is reporting that the Raptors are using the $5.8 MLE for Jack this whic they preserved by acquiring Hedo Turkoglu through a sign and trade. Seems like a lot, although maybe the first year of the contract will be top heavy. If true, good bye and good luck, JJack.