Title: What Kyle Lowry’s extension reveals about the Toronto Raptors future intentions
Date: October 7, 2019
Original Source: The Athletic
Synopsis: In my latest for The Athletic Toronto, I wrote about Kyle Lowry’s extension with the Raptors and what it signals about the team’s intentions the next two years.
Kyle Lowry’s legacy as a Toronto Raptor is only going to continue to grow.
Lowry and the Raptors struck an agreement on a one-year contract extension Monday, according to a report from Adrian Wojnarowski of ESPN. The deal is reportedly worth $31 million, which makes the extension something close to a no-brainer for both sides.
Lowry’s camp surely would have preferred a longer-term deal, but they had to be realistic about the market factors at play. Had Lowry entered unrestricted free agency this summer, he may have found a cold market despite sitting near the top of the free agent class. The teams that project to have significant cap space are the Raptors and a handful of rebuilding teams (Atlanta, Cleveland, Charlotte); Lowry could have lost leverage on a return to Toronto by entering a tough market and been short on outside suitors that could pay him more than the mid-level exception and allow him to continue competing with a playoff team. Tacking $31 million on his existing deal is a tidy exchange of term for annual value, and Lowry can re-enter free agency in 2021 when the league should be flush with cap space. In the interim, he’s being paid a very fair amount for what is normally considered a decline year.