BOOM!

 

 

Marc Stein from ESPN is reporting that the Raptors appear to be quite confident of locking up Kyle Lowry at $12M/year. This is on the heels of Michael Grange reporting that it’s “just about a done deal”:

This is coming on the heels of the Might Woj reporting that the Raptors would tender an offer at midnight. If the deal is signed at the reported $12M, would the Raptors have enough money to match any offers for Greivis Vasquez? Or would they be willing to go into the tax? This does put the Lou Williams acquisition into greater context. It’s a little unbelievable if Lowry signs without even listening to another team, but for our sakes, I hope he does exactly that.

The reported $12M is well and beyond anything Miami can offer him – even with a S&T they could offer a max of ~$8M, and that would mean neglecting all their other needs. To put in perspective, Lowry has a career earnings of $28.8M over his 8-year career. Under the reported deal, he would eclipse that in a little over two years. That kind of a pay bump would be hard to resist, no matter what Miami offers in terms of LeBron and Friends. Lowry also has to be thinking that, at 28, even if he signs a 4-year deal, he’ll have enough in the tank to go ring-hunting at 32 years of age if he hasn’t gotten one by then.

8:06 Update: Josh Eberley of DimeMag is reporting that Lowry has signed an extension, after being unable to resist the urge of being the #1 guy on the team (little does he know that Bruno Caboclo is going to take care of that soon enough):

8:16 Update: David Aldridge is reporting that Ujiri will present an offersheet at midnight:

8:46 Update: Apparently the Rockets want to make a pitch too if they can’t land ‘Melo. Nothing to worry about here, because Lowry would never go back to Houston. Would he? Blake Murphy will have an analysis of the Raptors cap situation once the numbers are a bit more clear, for now though, the off-season is off to a fantastic start.

10:14 Update (William is taking over): Josh Lewenberg just said on TSN1050 Radio that the Toronto Raptors’ offer will be the first one presented to Lowry at midnight. Not really a surprise, but it’s something.

10:31 Update

So that’s a bit crazy. You know, like eating a whole pack of magic mushrooms crazy. But hey, if the goal is to keep him, and this is the price, perhaps it’s not so bad. Having Lowry eat up such a huge chunk of money would leave little for Vasquez and Patterson. We shall see. If Lowry does net that figure (and it would be insane for him not to), Lowry would become the 6th highest paid PG in the league next season (Jeremy Lin technically has him beat, but his is a poison pill).

The upside is, it would certainly price Lowry out of anyone else’s range. However, the bad news is that it would be overpaying. While it’s possible for the Raptors to structure a front-loaded deal. Correct me if I’m wrong, but the Raptors could drop 7.5% off the first year’s salary every season, and make it something like: $14.5, $13.4, $12.33, $11.24 million, which comes down to $51.47 million over four years. That’s not that insane, but it’s still pretty nuts.

10:48 Update

Sweet. I just did all that calculating for nothing.

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