Greivis Vasquez Re-Signs With Raptors

JULY 17TH: Vasquez has officially signed his new deal, the team announced in a press release.

“Greivis’ passion for the Raptors and Toronto is wonderful,” GM Masai Ujiri said in the team’s statement. “He is a versatile player who provides us with energy and depth.”

NBA: Toronto Raptors at Cleveland CavaliersJULY 9TH: Greivis Vasquez has agreed to a deal with the Raptors, a league source tells Adrian Wojnarowski of Yahoo! Sports (Twitter links). The point guard will sign the two-year, $13MM contract with Toronto once the league moratorium has passed. The deal includes no options, tweets Sam Amick of USA Today.

The move will end Vasquez’s restricted free agency following Toronto’s choice to extend a qualifying offer over a week ago. Vasquez was being sought after by the Bucks, but was reportedly close to re-signing with the Raptors before Milwaukee’s efforts could gain steam. Ryan Wolstat of The Toronto Suns speculates that the agreement could have been delayed by a failed attempt on the part of the 27-year-old’s agent, Arn Tellem, to gain a third year on the contract (on Twitter).

Vasquez will return to back up Kyle Lowry, whom Toronto reached a four-year agreement with already. An average salary of $6.5MM is high for a second string guard, but the length of the contract gives the team flexibility and a reliable insurance option should the oft-injured Lowry run into any health trouble. Vasquez excelled as a backup last season, posting a career-high per-36-minute scoring average while maintaining a solid 6.2 assists-per-36-minute rate.

Photo courtesy of USA Today Sports Images.

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