Raptors Re-Sign Kyle Lowry

JULY 7, 11:39am: The Raptors have officially signed Lowry to his new deal, the team announced today in a press release."<strong

“Kyle has been a valuable part of our team’s success the past five years,” Raptors president Masai Ujiri said in a statement. “He has grown as a player and person during his time in Toronto and we are excited that he wants to be here to help us continue building a championship program.”

JULY 2, 4:24pm: Lowry’s new deal with the Raptors will be for three years and $100MM, according to Michael Scotto of Basketball Insiders (Twitter link). That’s just a little less than a maximum salary deal for the veteran point guard, and it includes incentives, tweets Sam Amick of USA Today.

4:19pm: The Raptors and Kyle Lowry have agreed to a new deal. Terms of the agreement aren’t yet known, but Lowry has announced in a piece for The Players’ Tribune that he has decided to remain with Toronto.

“I’m coming back to Toronto because my heart is telling me that it’s home — and because staying home, for me and my family, feels like the right thing to do,” Lowry writes. “My heart is telling me that this is the best city in the world, with the best basketball fans in the world. It’s telling me that the Raptors can be a championship-level team, sooner than later. And I’ll be honest (and don’t hate) — it’s telling me that I’ve still never had poutine.”

[RELATED: 2017 NBA Free Agent Tracker]

Lowry, 31, entered this summer as one of the top free agents available at point guard or any position. He’s coming off his third straight All-Star season, having averaged a career-best 22.4 PPG to go along with 7.0 APG, 4.8 RPG, 1.5 SPG, and a shooting line of .464/.412/.819. The Philadelphia native was limited to 60 games due to a broken wrist and missed Toronto’s last two postseason contests due to an ankle injury, but will be 100% for the start of the 2017/18 season.

While it wasn’t a sure thing that Lowry would re-sign with the Raptors this season, many of his other potential suitors addressed their point guard position in other ways within the last week or two. For instance, the Sixers drafted Markelle Fultz, the Nets acquired D’Angelo Russell in a trade, and the Timberwolves committed to sign Jeff Teague.

Those moves – and others – all nudged Lowry back in the direction of Toronto, and his return looked more than ever like a lock when Serge Ibaka reached an agreement with the club earlier today. Lowry and Ibaka share an agent, ASM’s Andy Miller, and it made a lot of sense for the team to re-sign one player if the other returned, since the Raps wouldn’t have any cap room to sign a suitable replacement.

With both Lowry and Ibaka back in the fold, the Raptors project to be well over the luxury tax line, but they’re exploring ways to reduce team salary. The club is said to be discussing a Cory Joseph trade with the Pacers, which would move Joseph’s $7.63MM salary in return for draft-pick compensation. DeMarre Carroll and Jonas Valanciunas are also trade candidates, though it would be virtually impossible to move Carroll without attaching an asset or two to him.

Lowry and Ibaka both agreed to three-year deals, which puts them on track to expire in the summer of 2020. That’s the same offseason that DeMar DeRozan will have the chance to opt out and return to the free agent market as well, so it looks like Toronto aims to contend with its same core for at least the short-term future. The Raps will have the opportunity to potentially reconsider their options by that summer of 2020.

The development of some of the Raptors young players could be key in determining whether or not the club can take the next step and truly challenge for a spot in the NBA Finals. Delon Wright and Fred VanVleet, in particular, could be asked to take on larger roles backing up Lowry if Joseph is dealt. Norman Powell also figures to play more minutes with P.J. Tucker headed to Houston, while Jakob Poeltl and Lucas Nogueira could see more playing time in the frontcourt if Patrick Patterson departs and/or Jonas Valanciunas is traded.

Photo courtesy of USA Today Sports Images.

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29 thoughts on “Raptors Re-Sign Kyle Lowry

    • Dionis

      He’ll produce at a all-star level for the duration of his contract thats all that will matter.

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  1. Bransonreynolds

    Lotta money for that backcourt. Esp for being the 4th best team in the east with MIL on the rise.

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    • Dionis

      They’ll be way better with a full training camp with Ibaka.

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  2. acarneglia

    Come on man. Spurs lost out on Lowry and CP3 now.

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    • scottbour

      Really what are you thinking ??? The Spurs WERE NEVER getting CP3 or Lowery. Get a clue.

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      • acarneglia

        CP3 was considering the Spurs but was unsure with the Aldridge situation.

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      • Dionis

        Gay is a solid signing, under Pop he will play much more disciplined and take higher percentage shots.

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  3. formerlyz

    Wow lol I was way off on that one. He had an MVP candidate type of year last year before he got injured, so I guess it makes sense. But at his age, that 3rd year would scare me at that price.

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  4. Dionis

    Layoff the pizza and chicken wings fatboy and maybe you can get the Raptors to the ECF. Get your chubby self in the gym and earn that 33 million a year you’ll be getting cause you choke in the playoffs constantly.

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    • formerlyz

      Dude…Lowry improved his conditioning at least 2 years ago. It might have been 3….

      And the reason he doesn’t play well in the playoffs is b/c their offense is iso centric around 2 guys, 1 who can’t shoot. In the half court, that is going to be way harder to score in the playoffs, unless you make jumpshots. Not solely his fault. Bad coaching. Bad personnel around him in certain spots *cough* DeRoan *cough*

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    • Chun

      100 million for him? That’s a lot of chicken wings.

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    • the dude

      I bet he gets more exercise than you do. Going upstairs to get your mouth tain dew when your mommy is out getting you lunch ables to fuel your war craft quests doesn’t count really

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  5. formerlyz

    That Derozan deal is like $4-6 million per year bad, and Valanciunas probably comes off the bench, which I think is a good fit for him. They need their young players to turn the corner and make some impact for them this year. They could use more shooting/defense on the wing, and they’ll have to figure out how to replace Patterson at the 4, b/c he was really valuable for them

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  6. xabial

    LOVE THE LENGTH. I would take this contract over Jrue’s 10/10 times, all day every week, though I’d rather have Jrue contracts being equal. I was worried Lowrie would get 5 years at age 31. Raptors President/GM Masai Ujiri killing it again, no wonder Knicks wanted to poach him from Raptors to replace the now ousted Phil Jackson

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  7. vbac23

    The NBA has lost its mind 36/37 mil a season for an above average PG?

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    • formerlyz

      To be fair, before he was injured, he led all East players in TS% and RPM last year. He was probably 5th in MVP discussion at that time. It’s not the money that’s crazy. It’s the money and the years for someone his age, at that position

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      • the_great1

        The years aren’t crazy. At 31, 3 years is excellent term from the Raps perspective. Its the per annum average thats a little staggering. All in all, a decent deal for the Raps.

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        • formerlyz

          I should have clarified. 3 years is fine. It’s that 3rd year at THAT money that would worry me

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    • GuruGray

      Do you think they should have let him walk and started Cory Joseph at the 1? Because those were their only choices. I’d rather be the 3rd or 4th seed in the East than be struggling to make the playoffs

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