Portland is closing in on a five-year, $50 million offer to Hedo Turkoglu, according to a report from Yahoo!

If things end up falling apart, the Blazers would then likely turn to David Lee.

As Portland pursues Hedo Turkoglu, they have angered Rudy Fernandez in the process, according to sources.

Fernandez would prefer to play in Greece, Russia or even Spain again.

A league source told ESPN.com that Fernandez has already been courted informally by European powerhouses Olympiacos, Real Madrid, FC Barcelona and CSKA Moscow.

Fernandez, who paid more than $500,000 of his own money to buy his way out of his contract with DKV Joventut, believes he can earn 5 million euros per season if he signs a three-year contract in Europe. He is due to make $1.1 million from the Blazers next season.

The problem for Fernandez from a leverage standpoint is that he is entering the second year of his NBA rookie contract, and the Blazers have the option to re-sign him for a third and/or fourth season. Fernandez would have to be released from his NBA contract in order to receive a letter of clearance from FIBA.

The Blazers have been made aware of Fernandez's feelings, the source said.

Sources say Toronto is preparing an offer of five years and $60 million for Hedo Turkoglu.

Jeffers and Gaines with a non guaranteed for the coming season

In an effort to cut costs, the Miami Heat terminated all of its staff dedicated to selling season-ticket packages for the team

The point guard played for Raptors the Summer League in Las Vegas

The player comes from Denver Nuggets

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