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Report: Raptors, Lowry agree on 1-year extension

The Toronto Raptors and all star point guard, Kyle Lowry have agreed to a one year contract extension, according to ESPN’s Adrian Wojnarowski.

The deal, agent Mark Bartelstein tells Wojnarowski, is for one year, valued at $31 million.

On Media Day, Raptors President, Masai Ujiri spoke of the “legacy treatment” Lowry would receive in upcoming contract negotiation talks.

While a  slight $2 million pay decrease from his 2019-2020 salary ($33, 296, 296), Lowry becomes the first player over the age of 33 to receive a contract extension of more than $30 million in a first year cap hit.

The extension comes on the heels of Lowry’s first NBA championship throughout his 14 seasons. It also removes him from a free agency group next summer that includes Anthony Davis, Andre Drummond, Eric Gordon, and best friend, DeMar DeRozan.

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