JULY 10TH: Lowry has officially re-signed, the team announced via press release.
“We made it known that our top priority heading into the offseason was to re-sign Kyle,” GM Masai Ujiri said in the team’s statement. “He was a key to our success last season and we are delighted that he wants to be here in Toronto to help us continue to build a championship program.”
JULY 2ND: Kyle Lowry has agreed to a four-year, $48MM deal to stay with the Raptors, sources tell Adrian Wojnarowski of Yahoo Sports (on Twitter). Lowry has been heavily courted by the Heat, Rockets, and others, but it appears that he’ll be staying put with the club that helped resurrect his career. The deal includes a player option for the fourth year (link).
It was expected that the Raptors would pitch Lowry on a deal with an average annual value of $12MM a year but the club was reportedly considering making it a five-year offer to help keep him away from other suitors. For one reason or another, a fifth year wasn’t necessary and the Raptors got to keep their standout guard on a deal that is probably much more comfortable for them. This is strictly speculative on my part, but the opt out clause after year three could have been the compromise that kept Lowry satisfied with four years rather than five.
The Andy Miller client had significant interest from an impressive group of teams including the Heat, Rockets, Lakers, and Mavericks but he’s slated to stay north of the border for at least the next three seasons. It’s easy to see why. After averaging 10.6 PPG and 5.0 APG for the first seven years of his career, Lowry blossomed into a star last year for Toronto, putting up 17.9 PPG and 7.4 APG. The 28-year-old led Toronto to the Atlantic Division crown and although they were bounced by the sixth-seeded Nets in the first round, the Raptors organization reinvigorated Toronto’s basketball fans.
Photo courtesy of USA Today Sports Images.