The Toronto Raptors announced Friday that they have re-signed Serge Ibaka and Kyle Lowry.
“We are thrilled with the skills and intangibles Serge brings to our team,” Raptors President Masai Ujiri said of Ibaka in a release. “He is one of the top two-way power forwards in the NBA and his ability to stretch the floor is a valuable asset today’s game.”
“Kyle has been a valuable part of our team’s success the past five years,” he said in a second release. “He has grown as a player and person during his time in Toronto and we are excited that he wants to be here to help us continue building a championship program.”
Both players will be re-introduced at Air Canada Centre on Friday starting at 10am, where team president Masai Ujiri will also speak.
During the early part of the availability, Ujiri offered that “I’m hoping to be a Toronto Raptor for life, whether you guys like it or not,” when asked about the earlier Knicks rumors. We’ll have video of the pressers shortly.
The signings were agreed to and reported over the weekend, but because of the NBA’s free agent moratorium, teams were unable to announce deals officially until noon today. Ibaka signed Sunday on a deal reported to be worth $65 million over three years, and Lowry followed shortly after with a reported three-year, $100-million contract. The structure of each remains unknown, but should come to light in the coming days as official paperwork is filed with the league. The structures will inform a great deal about just how inflexible a spot Toronto presently finds themself in, financially.