Well that was fast.

A day after Hedo Türkoğlu agreed in principle to sign with the Portland Trailblazers, the Turkish superstar backed out of his verbal commitment faster than you can say “bigger contract.”

On Thursday, Türkoğlu unofficially accepted a five-year $50 million dollar offer from the Blazers… before arriving in Toronto today and being offered a larger contract.

The Raptors are reportedly offering Türkoğlu a five-year, $56 million dollar contract.

According to Yahoo Sports, in order for the Raptors to sign Hedo, Toronto will have to renounce their rights to three important free agents, Shawn Marion, Carlos Delfino, and Anthony Parker to create the cap space.

To be completely honest, the difference in contract money is relatively small, especially considering the high taxes in Canada.  With all that, money is not the primary factor in Hedo’s final decision to cut contract talks with the Blazers.

The Sacramento Bee says that Türkoğlu’s wife, Banu, prefers that they relocate to Toronto, an international city with a sizable Turkish community. Plus, living in the East cuts the roundtrip visits back to Istanbul almost in half.

Whatever the reason(s), the Blazers are pissed… well, except for Rudy Fernández.