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Raptors re-sign Kyle Lowry to four-year, $48 million contract

Jul 2, 2014, 11:11 PM EDT

Brooklyn Nets v Toronto Raptors - Game Seven Getty Images

The Raptors made re-signing Kyle Lowry – an All-Star-caliber point guard who led them to the East’s No. 3 seed – their top priority.

It worked.

Adrian Wojnarowski of Yahoo Sports:

Free agent guard Kyle Lowry has reached agreement on a four-year, $48 million contract extension with the Toronto Raptors, league sources told Yahoo Sports.

The deal has an early termination option allowing Lowry the opportunity to become a free agent after the third season.

That’s fantastic value for the Raptors. Signing him to just $12 million per year, they’ll have flexibility in coming seasons to continue upgrading the team.

Most importantly, they’ll have Lowry. Their best player, he should keep the Raptors a challenger in the East.

As for Lowry, he gets more long-term security than he’s ever had in his sometimes turbulent career. Perhaps, he could have drawn more money from another team, but there’s clearly a comfort level in Toronto.

Plus, if he wants to seek a larger deal – especially possible if the salary cap jumps with the new television contract – he can in just three years. Technically, the contract can’t contain an early termination option for the fourth season. (Those are allowed only for the fifth season.) However, a player option is permissible and offers the same de facto functionality.

Meanwhile, the Heat must identify another dream candidate.

  1. borisalessandri - Jul 2, 2014 at 11:14 PM

    How much is that in Canadian dollars

    • BrownsTown - Jul 2, 2014 at 11:44 PM

      Need the USD:beaver pelt exchange first. Hold please….

    • mazblast - Jul 2, 2014 at 11:57 PM

      If I remember correctly, MLB, NBA, and NHL franchises all pay their players in US $. I don’t know the current Canadian equivalent, but I’m reasonably sure this is the US amount.

      • asimonetti88 - Jul 3, 2014 at 12:21 AM

        Player salaries are paid in American dollars. But revenue is earned in Canadian dollars. That was one of the issues for the Vancouver Grizzlies back in the day, because the Canadian dollar had a very weak exchange rate at the time and was devaluing, so I believe something like 75% of their revenues were going to payroll for players, executives and operations. Today there is a much more even exchange rate, so I don’t think it is as much of an issue for the Raptors.

    • blueintown - Jul 3, 2014 at 12:04 AM

      For the record, it’s roughly the same.

  2. zoomy123 - Jul 2, 2014 at 11:16 PM

    Right now Pat Riley is looking at a picture of Lebron James and sweating out his perm.

    • nflcrimerankingscom - Jul 2, 2014 at 11:46 PM

      Heat can’t afford Ben Gordon, let alone Kyle Lowry

  3. csbanter - Jul 2, 2014 at 11:20 PM

    Lebron and Wade will convince Bosh to play for the veterans minimum, that’s how much Mr. Bosh is on the band wagon. Good for Lowry stay competitive no need to run to South Beach for a chance to lose to the Spurs.

    • antistratfordian - Jul 2, 2014 at 11:23 PM

      So you think Miami is back in the Finals for the 5th straight year too? Right on.

      • ranfan12 - Jul 2, 2014 at 11:54 PM

        now he didn’t say all that lol.

    • Mr. Wright 212 - Jul 3, 2014 at 12:20 AM

      LMAO $90 Million is far from veterans minimum, but you can keep hoping. IT’S OVER.

      • bball242322 - Jul 3, 2014 at 1:11 PM

        Mr. Wrong212

  4. gatorfan1 - Jul 2, 2014 at 11:29 PM

    “Another one Bites the Dust” – The Miami Heat Free Agency Song 2014…Lol

  5. samsonight1010 - Jul 2, 2014 at 11:44 PM

    I’d love to say “good for Toronto” which it is, but I’m going to take the low road too and encourage Miami to try to play another year without a PG

  6. haywoodjeffries - Jul 2, 2014 at 11:45 PM

    Impossible to hate this dude. Typical Philly guy – all heart.

    Easy decision though. Heat fans are fraudulent. Raptor fans showed that they are amongst the best in basketball.

  7. 00maltliquor - Jul 2, 2014 at 11:51 PM

    I feel like they will regret the amont per year in two short years. I promise he won’t play the full 4 out before getting traded.

    • billtetley53 - Jul 3, 2014 at 8:59 AM

      Typical of a lakers fan. You’re really slipping lately malt.
      This was one guy that you lakers fans were hoping to get, and now, they are going to regret this signing in 2 years in Toronto?

      Come on dude, you are sounding more like kb with every post(not a good thing), you’re. better than that.

      • 00maltliquor - Jul 3, 2014 at 10:18 AM

        Guess I’m a sausage wallet then? Lol no but honestly this has nothing to do with the Lakers. When I make a post/observation/judgement or whatever you want to call it, I go in 120% with complete objectivity. Yes I am a Lakers fanatic, but that never clouds my judgement. I could talk about anyone’s team just as good if not better then actual fans of that other team. I’m an NBA junkie.

        That being said, Lowry is a nice player, and he was who I wanted most in free agency (LeBron is way too far fetched to even think about dreaming about), but at $12 million per, that’s overpriced, especially with how the cap works now in today’s NBA. I follow the signings of every single team every year and this just seems like one that looks good NOW, but I. 2-3 years down the road they will regret it because

        1) there will be a hotter new thing at PG the Raps want to trade for or move up in the rotation
        2) they might want to get a legit star but Lowrys contract is getting in the way
        3) something of that nature…

        I’ve seen it all the time, no diss to Lowry but he’s not a great player. He’s a borderline All-Star on his best years. We’ll just see but if he’s still there and Toronto sees out the duration of his contract then I’d be astonished. I would LOVE to revisit this comment with you inside of 4 years from now.
        3)

    • thesixersbench - Jul 3, 2014 at 10:04 AM

      You’re crazy, dude – he isn’t at the age yet where decline is a concern and 4 years / $48 million for a guy coming off his best year AND serving as the focal point of an offense that carried a team to the playoffs….this is one hell of a deal.

      Raptors fans should be thrilled.

  8. cantonb0und13 - Jul 2, 2014 at 11:56 PM

    I ate Chinese food today, and got hungry again 30 mins later. So I ate a protein bar and worked out.

    • ranfan12 - Jul 3, 2014 at 12:14 AM

      how did that solve the hunger problem. exercise usually speeds up digestion and potentially makes people more hungry lol

      • cantonb0und13 - Jul 3, 2014 at 12:27 AM

        Had a fish sandwich afterwards with some vegetables (broccoli is my favorite).

  9. campcouch - Jul 2, 2014 at 11:58 PM

    Good for T-Dot.

  10. mazblast - Jul 2, 2014 at 11:59 PM

    Right now, David Stern must be steaming mad at Adam Silver. “Didn’t I tell you how to allocate players to the teams in the cities where the pretty people live? How DARE you allow a good player to stay in Toronto??!!”

    • 00maltliquor - Jul 3, 2014 at 1:16 AM

      You know what David, I’m not afraid of you no more! You can’t talk to me like that, I’m a much stronger person now that I’ve been away from you. You can no longer control me!

  11. 32magicman - Jul 3, 2014 at 12:32 AM

    Why do they need a point guard? Let Lebron play the point and sign another big.

  12. kb2408 - Jul 3, 2014 at 1:46 AM

    So, after striking out on Gortat and Lowry, I guess the next players on the list to “not” sign with the Heatles will be Pau, Ariza and Deng. I don’t see either of them taking less just for the chance to get curb stomped in the Finals by the West. Eventually the Heat will have to beg the Jameer Nelson’s of the league to come to South Beach.

    • gofinsgoheatfloria - Jul 3, 2014 at 8:43 AM

      Gortat and Lowry could re-sign with contenders, and did so. Pau and Deng do not have that path.

    • billtetley53 - Jul 3, 2014 at 9:09 AM

      Meanwhile in L.A., the lakers dont have a coach and have a 4 man roster.
      Nash is done, Kobe is a question mark, Sacre(who?) and a rookie. No big names are coming to the lakers, and they will be lucky to get the Jameer Nelsons of the NBA to plsy for them.

      You had one decent trade chip in Pau, and the franchise let him walk for nothing.

      Tell me again why a lottery team fan is talking about a team that has been to 4 straight finals?

      You are the biggest know nothing, hypocritical “fan” on this site.

      For your sake alone, i hope the lakers stink for the rest of your existence. The lakers are pathetically your entire life. It would make me happy for you to be miserable as long as you are wasting good peoples air.

  13. lakerade - Jul 3, 2014 at 2:45 AM

    Good for Lowry, good for the Raptors, good for the Lakers. Not you, you.

  14. davidly - Jul 3, 2014 at 5:32 AM

    I can see Love in Miami and Bosh packing for somewhere in a three-team deal, probably LA or Phoenix. I’m surprised nobody has seen this. It would solve one of the Heat’s biggest issues without removing any of their strengths.

    • Kevin S. - Jul 3, 2014 at 6:29 AM

      You do realize Love is a vastly inferior interior defender to Bosh, right?

      • davidly - Jul 3, 2014 at 8:05 AM

        Sure. But that didn’t make the Heat’s pedestrian defensive efficiency any better when it mattered in the playoffs. Love will clean up the boards which would be a vast improvement and he would stretch the floor even more effectively. Not a knock on Bosh, it’s just that Love’s rebounding and shooting would be an upgrade.

  15. rrhoe - Jul 3, 2014 at 9:16 AM

    The first sensible contract signing so far.

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