Raptors’ Gary Trent Jr. To Pick Up 2023/24 Player Option

Raptors wing Gary Trent Jr. has decided to exercise his player option for the 2023/24 season, agents Rich Paul and Lucas Newton of Klutch Sports tell Chris Haynes of Bleacher Report and TNT (Twitter links).

The move will guarantee Trent’s $18.79MM salary for next season and will keep him off this year’s free agent market, lining him up instead for unrestricted free agency in 2024.

It’s a surprising decision, given that Trent had long been expected to opt out in order to sign a longer-term deal worth perhaps $18-20MM annually. The 24-year-old is coming off a solid two-and-a-half year stint in Toronto in which he averaged 17.7 points per game on .420/.374/.843 shooting while chipping in 1.6 SPG.

Trent, who is still entering his prime, projected to be one of the best three-and-D players on the market. It’s possible his agents quietly gauged his market and found it wasn’t robust as anticipated.

A desire to remain in Toronto also factored into Trent’s decision, according to Haynes, who says the two sides intend to explore a multiyear agreement. Once he officially picks up his option, the former Trail Blazer will be on track to become extension-eligible in July. The NBA’s new extension rules would allow him to receive a raise of up to 40% on a new deal.

While Trent’s decision to opt in will keep one key Raptors contributor off the free agent market, two others are still expected to become free agents on July 1. Starting point guard Fred VanVleet already declined his own ’23/24 player option, while center Jakob Poeltl will see his current contract expire on June 30.

As Josh Lewenberg of TSN.ca tweets, Trent’s $18MM+ cap hit will make it more challenging for the Raptors to bring back both VanVleet and Poeltl on market-value deals and avoid the luxury tax. While it’s not impossible, it may require a cost-cutting move or two.

The full list of player option decisions for 2023/24 can be found right here.

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