Report: As Expected, Raptors Re-Sign Kyle Lowry To $48 Million Deal

Posted on Jul 3 2014 - 3:54pm by Johnny Feulner
Toronto has re-signed point guard Kyle Lowry to a four-year, $48 million extension - Mandatory Credit: USATSI via CBS Sports

Toronto has re-signed point guard Kyle Lowry to a four-year, $48 million extension – Mandatory Credit: USATSI via CBS Sports

After reports surfaced suggesting Kyle Lowry was going nowhere, that’s exactly what ended up happening.

According to ESPN.com writer Brian Windhorst, Lowry has reportedly signed a new four-year, $48 million deal to return to the Toronto Raptors.

Lowry will have an average annual value of $12 million.

Earlier this week, Michael Grange of sportsnet.ca predicted Lowry’s new deal with Toronto to be “as good as done.” Now, it is.

Although there was speculation that the Miami Heat would be serious contenders with Toronto to land Lowry, there was just no way Miami could’ve afforded the contract he wound up receiving from the Raps.

And, as it turns out, Lowry in actuality chose Toronto over offers from the Houston Rockets and Los Angeles Lakers, per Windhorst.

Lowry rejoins Toronto after helping them reach the postseason for the first time since the 2007-08 campaign. And, following a career year from the 28-year-old point guard.

Establishing career-highs in both points (17.9) and assists-per-game (7.4) during the regular-season, Lowry has been the piece that’s been missing for the Raps those five-straight seasons they missed the playoffs.

Toronto will have to make a few more moves to improve their roster if they want to contend with Miami – should the Heat retain their Big Three – but re-signing Lowry is certainly a start.