The Toronto Raptors have taken care of their most vital player and protected their future financial picture at the same time.
All-star point guard Kyle Lowry has agreed to a one-year contract extension worth $31 million (all figures U.S.) for the 2020-2021 NBA season, according to agent Mark Bartelstein and reported by ESPN’s Adrian Wojnarowski early Monday morning.
Lowry was about to enter the final year of a three-year deal that pays him about $33 million this season and was seeking some kind of new deal.
The contract keeps Toronto’s financial picture rosy for next summer’s free agency crop while retaining a five-time all-star who helped lead the team to an NBA championship last June.