The Raptors most likely will keep the top pick in the NBA draft, with their choices believed to be down to Italian forward Andrea Bargnani or Texas forward LaMarcus Aldridge.

"At this point, it seems to be that we are more or less locked in at the No. 1 spot," general manager Bryan Colangelo said Tuesday. "It's the day before the draft, and it appears we will utilize the pick."

Colangelo said he has taken calls from several teams since Toronto won the draft lottery.

"There have been quite a few inquiries about the pick, nothing we felt was enough to change our course and use the selection," said Colangelo, whose team has the No. 1 selection for the first time. "The offers that we received were not in the caliber that we felt it required to move the pick."

STOJAKOVIC A FREE AGENT: Indiana Pacers forward Peja Stojakovic opted out of the final year of his contract on Tuesday but wants to return to the team. Stojakovic took advantage of the early termination clause in his six-year deal and became a free agent in hopes of getting a raise and long-term contract, his agent said. His current deal would have paid him more than $8.1 million next season.

Stojakovic came to Indiana from Sacramento in a midseason trade for troubled player Ron Artest. Pacers CEO Donnie Walsh and president of basketball operations Larry Bird knew Stojakovic would test the market.

"It was nothing unexpected," agent David Bauman said. "We just had to go through the formal process of canceling the last year of the deal. Larry and Donnie understood when they traded for him that he was going to exercise his early termination option."

ARENAS' HEARING RESCHEDULED: Washington Wizards star Gilbert Arenas missed a court hearing Tuesday on a charge of resisting an officer without violence, and a warrant was briefly issued before the arraignment was rescheduled. Neither Arenas, the Wizards' leading scorer, nor his attorney showed up for the morning arraignment. Circuit Judge Samuel Slom issued a bench warrant for the player's arrest and set a $2,000 bond. The Wizards contacted the judge on Arenas' behalf and told him the player didn't receive a written notice regarding the court date, Wizards President of Basketball Operations Ernie Grunfeld said in a statement.

ALSO: Hornets coach Byron Scott signed a three-year contract extension Tuesday that will keep him with the team through the 2008-09 season.