$100 million is a lot of money, even in today’s NBA money-rich landscape. But, for the Toronto Raptors and Kyle Lowry, $100 million is just right for both the team and the talented point guard.
On Sunday, Lowry announced via The Players’ Tribune that he’s not going elsewhere in free agency and sticking around in The Six. Per The Vertical’s Shams Charania, Lowry’s contract will be worth $100 million over three seasons, which averages just about $33 million per season.
Kyle Lowry announces his free agency decision: https://t.co/fYoH53p9mx pic.twitter.com/h0YAV5SZLE
— The Players' Tribune (@PlayersTribune) July 2, 2017
“I’m coming back to Toronto because my heart is telling me that it’s home — and because staying home, for me and my family, feels like the right thing to do. My heart is telling me that this is the best city in the world, with the best basketball fans in the world. It’s telling me that the Raptors can be a championship-level team, sooner than later. And I’ll be honest (and don’t hate) — it’s telling me that I’ve still never had poutine.”
Losing Lowry represented the worst-case scenario for the Raptors, as the point guard has established himself alongside shooting guard DeMar DeRozan as one of the most lethal backcourt combos in the league. The 31-year-old has aged like wine, averaging a career-best 22.4 points, 7.0 assists, and 4.8 rebounds in his 11th NBA season in 2016-17. Without Lowry, Toronto’s depth chart would have featured Cory Joseph and Delon Wright – two fine backups nowhere close to starters – as the club’s go-to options.
$100 million is a lot of money to hand to a 30+-year-old point guard, but, on a three-year deal, even at the high cap hit, it’s manageable for Toronto. Locking Lowry into a four or five-year contract would have crunched the Raptors into cap hell over the next half-decade. Now, Lowry will earn a lot but still while at his peak.
It’s been a good day for the Raptors, as the club also agreed on re-signing power forward Serge Ibaka to a three-year, $65 million deal. President Masai Ujiri has been a wizard navigating bringing back his top talent, ensuring they get paid, but not on crippling terms. It’s a win-win for all involved.
The question remains: “Will bringing the band back together really ensure anything more than a loss to the Cavs in the playoffs?” The answer right now? No. But, Ujiri isn’t close to being settled with the Raptors current roster. He’s going to have to move some salaries around as the club will be $13-17 million over the tax as The Athletic Toronto’s Eric Koreen notes. Outside DeRozan, Lowry, and Ibaka, there’s little chance the Raptors starting five (and depth chart) will look anything like last seasons.
Raptors fans will sleep easy knowing the best point guard in franchise history (sorry, Damon Stoudamire) is under contract for at least three more seasons. Now that the hard work is done, it’s time for Ujiri and company to start shaping the Raptors into a team that can beat the Cavaliers – which is no easy feat. But, re-signing Lowry is a great start.
