Report: Kyle Lowry, Raptors Agree to One-Year Extension

Kyle Lowry and the Toronto Raptors have agreed on a one-year, $31 million contract extension that takes the five-time All-Star guard out of July’s free-agent market, agent Mark Bartelstein of Priority Sports told ESPN.

The extension guarantees Lowry two years and $64 million on the books — including the $33.3 million left on his expiring contract this season.

Toronto president Masai Ujiri, general manager Bobby Webster and Lowry’s camp had been motivated to hammer out an extension for months. Over the weekend, the sides closed on a deal that delivers the Raptors options as they evaluate how they’ll construct a post-championship roster — and delivers Lowry the opportunity to extend his stay with a franchise with which he’s wanted to complete his career.

Source: Adrian Wojnarowski of ESPN