The Sixers and Miami Heat are having talks with the Toronto Raptors to acquire the six-time All-Star point guard in a trade. However, Lowry, 34, wants some indication that a potential destination is willing to give him a two-year extension at a minimum $25 million a year, according to sources. He’s making $30 million in the final year of his Raptors deal.
More on Kyle Lowry Extension?
Part of Lowry’s slow playing training camp was driven by an effort to maintain some control of his destiny. If the Raptors weren’t going to give him an extension, sources close to Lowry say, he was prepared to hold out and try and force a deal to a destination of his choosing rather than allow the club to control the timing. But it never came to that. Lowry was wise enough to recognize that $31 million payouts don’t come along every day for veterans heading into their 14th season, and the Raptors were sensible enough to avoid getting into a drawn out scrap with a player that has infused the franchise with his will and passion.
Kyle Lowry and the Toronto Raptors have agreed on a one-year, $31 million contract extension that takes the five-time All-Star guard out of July's free-agent market, agent Mark Bartelstein of Priority Sports told ESPN. The extension guarantees Lowry two years and $64 million on the books -- including the $33.3 million left on his expiring contract this season.
Toronto president Masai Ujiri, general manager Bobby Webster and Lowry's camp had been motivated to hammer out an extension for months. Over the weekend, the sides closed on a deal that delivers the Raptors options as they evaluate how they'll construct a post-championship roster -- and delivers Lowry the opportunity to extend his stay with a franchise with which he's wanted to complete his career.
"We are so appreciative of how Masai and Bobby handled every aspect of this negotiation," Bartelstein told ESPN. "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 had not been enthusiastic about entering the free-agent market as a 34-year-old in July. Now he gets a deal that delivers him into some historical context: He becomes the first player older than 33 to get an extension that includes a first-year salary-cap hit north of $30 million.
Bobby Marks: Quick hitters on the Lowry extension: * 6 month-trade restriction does not apply. * Bonuses from his current contract apply. * Toronto still with $28M for 20-21 but not factoring in Siakam extended.
All-Star point guard Kyle Lowry understands why Kawhi Leonard would leave for the Los Angeles Clippers, but the longtime leader of the Toronto Raptors has no desire to bolt Canada. "I want to be there -- I would love to do a long extension, but we'll see what happens," Lowry said. "I'm here for USA Basketball and (to) support the guys and be around the group. I would love to be there long term, but we'll have that discussion when the time is right."
Lowry says he has not spoken to Raptors president Masai Ujiri about the team, just to check in about his injury. When the two do talk basketball, Lowry says finding a way to continue his career in Toronto will be a priority. “I want to be there,” Lowry tells SI. "I would love to do an extension, but we’ll see what happens … I would love to be there long term. We’ll have the discussion when the time is right.”
Chris Mannix: Kyle Lowry tells @SInow that he has had no conversations with the Raptors about his future. Says he is open to signing an extension and would like to be in Toronto long term.
