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While the contract numbers came across as a shock when revealed Wednesday, Colangelo maintains that DeRozan’s value only would have gone up based on the market, particularly if he shows the improvement the team expects this season. “Clearly the downside of free agency and the unknown of free agency, despite it being restricted free agency, is that his value would have gone up even further. With all of the due-diligence that we did and with all of the information that I’m privy to, we feel that this is at or near where he would have been next year. The only downside of waiting would have been that someone (else) would have come in,” he said. Toronto Sun

Toronto Raptors, Bryan Colangelo, DeMar DeRozan 

“There are roughly 10 teams, let’s say, that will have significant cap space, and would have been potential suitors for a dynamic wing player like DeMar DeRozan. By taking care of this now, we secured him at a number that we feel is the right value. Based on due diligence, based on where we see DeMar today and where we see him in the future, we feel like the value of the deal is an appropriate one and we acted on it.” Colangelo also valued DeRozan’s commitment to the franchise and to the city, his low-key lifestyle and the fact that he is only 23, yet already in his fourth NBA season. Toronto Sun

Toronto Raptors, Bryan Colangelo, DeMar DeRozan 

The Toronto Raptors and DeMar DeRozan waited until just before game time on Wednesday to finally come to an agreement on a four-year, $40 million contract extension. DeRozan was in the fourth year of his rookie contract and if the two sides had failed to reach an agreement before the end of the day, the young wing player would have become a restricted free agent at the end of the season. “I was to a point that I was ready if it didn’t and I was ready if it did,” DeRozan said. “It is a good thing that it’s out of the way.” HoopsWorld

Toronto Raptors, DeMar DeRozan 

This generous new contract is decidedly future-oriented and while Casey often talked about the things DeRozan needed to do to become a better player last year, this year he must have seen enough in preseason to believe DeRozan is going to become the player he needs him to be. Colangelo summed up the team’s view of their young wing and why this deal makes sense. “DeMar has worked very hard and has been a significant part of the building process here in Toronto,” said Colangelo in a Raptors’ press release. “We view DeMar as a young, athletic and talented basketball player whose character fits what we are putting together.” HoopsWorld

Toronto Raptors, DeMar DeRozan 

Adrian Wojnarowski: The Toronto Raptors are finalizing a four year, $40 million contract extension with DeMar DeRozan, league sources tell Y! Sports. Twitter @WojYahooNBA

Toronto Raptors, DeMar DeRozan 

Ryan Wolstat: Also just got confirmation that the DeRozan deal is 4 years, $38 million Twitter @WolstatSun

Toronto Raptors, DeMar DeRozan 

Adrian Wojnarowski: Toronto and DeMar DeRozan have made progress today in talks on a 4-year extension, but no deal yet in place, league sources tell Y! Sports. Twitter @WojYahooNBA

Toronto Raptors, DeMar DeRozan 

Marc Stein: All signals continue to point to NO extension for Raps' DeRozan before midnight buzzer. 10 hours to go & two sources say again: "Not likely" Twitter @ESPNSteinLine

Toronto Raptors, DeMar DeRozan 

DeRozan isn’t worried that he likely won’t get an extension done by the Halloween deadline. After that, talks won’t start again until next summer. “If I get one or if I don’t I just go out there and do my job,” DeRozan said after practice on Monday. He added Toronto is where he would prefer to stay long-term though. “Ya, at the end of the day, this is where I got drafted, this is definitely where I want to be. I just want to bring good things to the city and be a part of it for years to come so we’ll see what happens.” Toronto Sun

Toronto Raptors, DeMar DeRozan 

It’s becoming increasingly clear, though, that DeRozan won’t start the season with a lucrative contract extension. While his agents and the Raptors have had talks — and he remains part of the team’s long-term plans — the Oct. 31 deadline for a new deal is likely to come and go. DeRozan did profess his desire to remain a Raptor once he becomes a restricted free agent next summer. “At the end of the day, this is where I got drafted. This is definitely where I want to be,” he said. Toronto Star

Toronto Raptors, DeMar DeRozan 

On Wednesday, after an ESPN preview pegged the Raptors as a 33-win outfit and indicated that DeRozan hadn’t proven he was more than a bench player, the swingman angrily tweeted that the author was a “clown.” On Thursday, DeRozan admitted that such talk fires him up. “Some people say they don’t read negative stuff and everything, I use it as motivation,” he said. “It’s frustrating at times, it makes you want to work harder and at the end of the day prove everybody wrong. That’s why I love this job so much, love coming in here to prove people like that wrong.” Toronto Sun

Toronto Raptors, Media, DeMar DeRozan 

The Raptors like DeMar and believe in him, but sources say the idea of overpaying DeMar isn’t something the team is willing to do and that letting the market set his price as a restricted free agent is more likely. The Raptors are looking for a big leap from DeRozan this season before they are willing to really engage on what his future value really is. HoopsWorld

Toronto Raptors, DeMar DeRozan 

DeMar DeRozan: Who the hell is John Hollinger!? #Clown Twitter @DeMar_DeRozan

Toronto Raptors, Media, DeMar DeRozan 

Nobody was willing to divulge exactly what Dwane Casey said at halftime on Monday night. Apparently, it was sharp and possibly profane. Turnovers were a bugaboo during the Toronto Raptors’ training camp. And in the name of trying to pick up the pace offensively, the Raptors turned the ball over 14 times in the first half against Milwaukee. “It drives him crazy,” Raptors swingman DeMar DeRozan said. “You can definitely see it. [Over] everything else, he hates turnovers. We’re just trying to clean that up so we ain’t got to hear his mouth.” National Post

Toronto Raptors, Dwane Casey, DeMar DeRozan 

"Jonas, he's got a great sense of humor," DeMar DeRozan shared. "I didn't know he was going to be that funny. He's pretty funny, man. I was walking by him the other day and he was listening to Gucci Mane. Yeah, it surprised me. He was listening to Gucci Mane. He probably's got more rap on his iPod than me." Yahoo! Sports

Toronto Raptors, DeMar DeRozan, Jonas Valanciunas 

DeMar DeRozan, Raptors: It's not likely, despite DeRozan's improvement the last three years; they're not close. But don't rule it completely out, either. DeRozan's reps and the Raps have been talking for weeks, generally, but like everyone else, Toronto wants a deal with DeRozan that falls far below the max, and he's willing to test the market. NBA.com

Toronto Raptors, DeMar DeRozan 

Marc Stein: Extension grapevine scuttle w/buzzer 25 days out: Lawson (DEN) & Holliday (PHI) likely to get deals; Jennings (MIL) & DeRozan (TOR) unlikely Twitter @ESPNSteinLine

Denver Nuggets, Milwaukee Bucks, Philadelphia 76ers, Toronto Raptors, Brandon Jennings, DeMar DeRozan, Ty Lawson, Jrue Holiday 

Raptors general manager Bryan Colangelo said at media day on Monday that he has spoken to DeRozan’s agent “multiple times over the past several weeks to start to establish a dialogue,” but a pre-Halloween extension is far from a given. “He is clearly a piece of this team that we see as a piece for the future. He’s made great strides in his first few years, and we’re anticipating he has a much higher ceiling to (reach),” Colangelo said. “He’s very young, only 23 years old now. We anticipate very bright things for him on the horizon.” Toronto Sun

Toronto Raptors, Bryan Colangelo, DeMar DeRozan 

Colangelo said waiting wouldn’t be the worst move. “We’ve also agreed that should we not come to a conclusion with respect to an extension at this time, clearly it’s not the end of the world. We may have to grow together more before that deal is imminent.” Toronto Sun

Toronto Raptors, Bryan Colangelo, DeMar DeRozan 

DeRozan said he plans to let his play do the talking if a deal isn’t reached this month. “I really don’t look at my whole contract situation. I look at every year like it’s a big year for me because I have to do 10 times more than I did the previous year,” he said. “I don’t look at it like contract or this and that, I look at it as just me being a player and trying to get better. “I leave (the talks) up to BC and my agent. I let my job speak for (itself) and at the end of the day we’ll see what happens.” Toronto Sun

Toronto Raptors, Bryan Colangelo, DeMar DeRozan