TORONTO - The Toronto Raptors waived point guard Alvin Williams on Wednesday and announced the signing of guard Fred Jones.

The announcement comes days after guard John Salmons backed out of a planned deal with the Raptors, instead signing with the Sacramento Kings.

Jones, who played four seasons with the Indiana Pacers, will back up point guard T.J. Ford, acquired in a trade with the Milwaukee Bucks earlier this season.

Jones averaged 9.6 points a game as a backup last season, and 10.6 points and 3.1 rebounds two seasons ago.

"This is a great opportunity for me," Jones said. "We're putting together a really competitive team. I think the sky's the limit for us."

Williams, who played in one game in the past two years because of an injured right knee, will not be a part of that.

Due $6.8 million in the last year of his contract, general manager Bryan Colangelo said they had reached a settlement.

"I'm a little disappointed," Williams said. "I still wanted to play for the Toronto Raptors and give it one more chance, a last chance. Hopefully, I can get with another team and continue to play. If not, I'll look forward to doing other things in my life."

Williams, Toronto's all-time assist leader and second in games played, asked to play near the end of season, but the team didn't want him to.

Acquired from Portland in 1998, Williams averaged 9.3 points and 5.6 assists in 417 games.