Toronto, ON -- (Sports Network) - The Toronto Raptors have re-signed point guard Jose Calderon to a multi-year deal, the club announced Wednesday. Terms of the deal were not disclosed.

The Raptors made a qualifying offer to Calderon last month, and the player said on his website on July 1 that the sides had reached a preliminary agreement.

Calderon's signing comes on the same day that the Raptors officially acquired six-time All-Star forward Jermaine O'Neal from the Indiana Pacers. The trade also sent point guard T.J. Ford to the Pacers, clearing the way for Calderon to be the de facto floor general.

"We couldn't be happier for Jose to be in a position to sign a long-term contract and lead this team as its starting point guard," general manager Bryan Colangelo said. "Every step along the way of his young NBA career, Jose has elevated his performance and made others on the floor better. Jose is a tremendous asset for this organization."

The 26-year-old Calderon started a career-high 56 games last season, and over the course of 82 games, he posted career highs of 11.2 points and a team-best 8.3 assists. He has averaged 8.7 points and 6.1 assists in three seasons with Toronto.