Raptors Notes: Lowry, S. Adams, Draft Options, Lawson

Kyle Lowry‘s free agency decision will probably determine whether the Raptors operate above or below the salary cap in free agency, writes Blake Murphy of The Athletic. Demand is expected to be high for the 35-year-old point guard, with the Sixers and Heat among the contending teams likely to make offers.

If Lowry opts to stay in Toronto, where he has been for the past nine seasons, the team won’t have to be concerned with creating cap space. Murphy notes that the Raptors already have about $78MM committed to five players for next season, along with $32.18MM for seven non-guaranteed contracts and $66.3MM in cap holds. With a projected salary cap of $112.41MM, any new deal for Lowry would virtually ensure that the Raptors operate over the cap.

If he opts to go elsewhere, Toronto would be faced with the choice of taking the open cap room or trying to work out a sign-and-trade. Murphy points out that the Raptors can get to nearly $28MM by waiving and renouncing everyone without guaranteed money, which would be almost enough for a max offer for a player who has been in the league less than seven years. A sign-and-trade would likely make operating above the cap a better option, Murphy adds, but it would depend on how much salary the Raptors are willing to take back in return.

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