The 76ers have confirmed that they have traded power forward Reggie Evans to the Toronto Raptors for sharp-shooting guard-forward Jason Kapono.

The Sixers issued a press release at 2:43 p.m. Here's what Sixers General Manager Ed Stefanski said:

“We are very excited to add one of the league’s most prolific three-point shooters in Jason Kapono,” Stefanski said. “We feel that this move addresses our goal of improving our shooting from the perimeter.
“I want to thank Reggie Evans for his contributions to the team for the past two seasons and we wish him only the best.”
The deal appears to be financial for Toronto: Evans will make $4.6 million this upcoming season and $5 million in 2010-2011. Kapono will make $6.2 million this coming season and $6.6 the season after. The deal will be finalized when both players pass their physicals.
Evans played sparingly this past season, but is one of the league’s most physical players and usually makes a big impact on the defensive end. Evans averaged 3.3 points a game last season.
In Kapono, the Sixers get one of the top three-point shooters in the league, which is the area in which they have struggled the most for the past two seasons – finishing last in the NBA both those years.

Kapono shot 42.8 percent from three last season, averaging 8.2 points a game.