Point guard Kyle Lowry has agreed to a one-year, $31 million extension to remain with the Toronto Raptors, according to ESPN's Adrian Wojnarowski. Lowry was on an expiring contract, and now he's on the books for two years and $64 million as he tacks on another year to the tail end of his three-year, $100 million deal he signed in 2017.
Lowry was one of three key veterans who could have been bound to leave the defending NBA champions, along with Serge Ibaka and Marc Gasol, who are also on expiring contracts. Yet the longtime floor veteran became the first player older than 33 years old to get an extension that includes a first-year cap hit north of $30 million.
Lowry's agent, Mark Bartelstein, is appreciative of the deal and the way the Raptors went about it, praising the front-office duo of general manager Bobby Webster and president Masai Ujiri:
“We are so appreciative of how Masai and Bobby handled every aspect of this negotiation,” said Bartelstein. “Once again, they displayed how they look after their players in a first-class manner, especially someone like Kyle who they recognize has such a legacy with the franchise.”
Lowry will now avoid becoming a free agent in 2020, but can still be traded within this 2019-20 season if the team deems it necessary. The 33-year-old will join the likes of Stephen Curry, Russell Westbrook, Kemba Walker, John Wall, Chris Paul and Mike Conley as the only points guards over 30 years old to make more than $30 million per season.
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