JULY 10TH: Stone's deal will be worth about $1.9MM over two years, tweets Shams Charania of RealGM.com. A minimum-salary contract would be worth $1,832,456, so it's not clear whether Charania's figure is just slightly off, or whether the Raptors are signing Stone using a non-minimum exception.
JULY 4TH: The Raptors have agreed to sign free agent guard Julyan Stone to a two-year deal, reports Adrian Wojnarowski of Yahoo! Sports (via Twitter). The 24-year-old was eligible for restricted free agency this summer, but didn't receive a qualifying offer from the Nuggets, and became unrestricted.
With Sebastian Telfair and John Lucas III seemingly headed elsewhere in free agency, the Raptors are in the market for point guard help this summer. I doubt Stone will be Kyle Lowry's primary backup, but he could be a serviceable third-stringer at the point, and has played both backcourt positions in the past.
Presumably, new Raptors head of basketball operations and former Nuggets GM Masai Ujiri played a major role in luring Stone to Toronto. It's not clear if one or both of the years on Stone's deal will be guaranteed. Either way though, a multiyear contract for a player who has accumulated just over 200 NBA minutes in two seasons is rare.
While the level of guarantee on Stone's deal isn't yet known, I would assume it's for the minimum salary. Stone is represented by agent Giovanni Funiciello.