During a season of rebuilding, the Raptors made a big move by trading for Brandon Ingram at the deadline then with a three-year, $120 million extension. With Scottie Barnes and RJ Barrett already in place, it’s safe to say the core is starting to take shape.
Unless the front office decides to go all-in for someone like Giannis Antetokounmpo, Toronto probably isn’t making any big splashes this summer. The focus now is on figuring out how this group fits together, and building around them piece by piece.
The Raptors own the No. 9 pick in this year’s draft, and Masai Ujiri has already made it clear that the team needs another young big. But while the frontcourt may be the focus on draft night, the backcourt can’t be ignored. Toronto still needs a guard who can defend, has decent size, can shoot when left open, and doesn’t need to dominate the ball to be effective. Filling that kind of role could quietly reshape the rotation—especially next to players like Barnes, Ingram, and Barrett, who already do a lot with the ball in their hands.
Derrick White would be the perfect fit. But he’s also probably Boston’s most valuable trade chip outside of Jayson Tatum. If the Celtics look to shed salary, they’ll have other options (probably looking to move Jrue Holiday or Kristaps Porzingis as priority)—and teams with way more to offer than the Raptors. It’s hard to imagine Toronto outbidding the field without seriously overpaying.
That’s why Nickeil Alexander-Walker makes more sense.
Alexander-Walker, who is in the final year of a two-year, $9 million contract, will become an unrestricted free agent this offseason.
For Minnesota, no matter how far their current playoff run goes, they’ll likely need to choose between keeping Naz Reid or Alexander-Walker this summer.
Veteran NBA reporter Jake Fischer noted back in February that Reid is expected to opt out of his contract to test free agency. His deal includes a $15 million player option for 2025–26, which he’s now likely to decline. And why wouldn’t he? Reid just won Sixth Man of the Year last year and averaged a career-high 14.2 points per game this season. He offers the kind of versatility that modern teams covet: a big man who can handle the ball like a guard, switch on defence, and space the floor. Over the past two seasons, Reid has hit 39.6 percent of his 3s while averaging over two makes per game — rare efficiency for a frontcourt player.
On top of that, he’s a fan favourite in Minnesota, and a key part of their success. Keeping him would allow the Wolves to maintain lineup flexibility — especially in matchups where Gobert isn’t the right fit. All signs suggest they’ll do what it takes to keep Reid with owning his full Bird rights, and that might push someone like NAW out (considering the fact that the Wolves still got back-up guards like Donte DiVincenzo and Rob Dillingham).
Nickeil Alexander-Walker played his way into a real role in Minnesota, becoming a reliable part of the Wolves’ rotation. But despite his value on the court, his contract situation puts his future with the team in doubt. Because of the type of deal he’s currently on, the Wolves aren’t allowed to go over the cap using full Bird rights to re-sign him. The most they can offer is 175 percent of his current salary — which comes out to around $7.9 million per year.
After two strong seasons with the Wolves, NAW is expected to draw interest worth much more than that. If another team steps up with a competitive offer, Minnesota simply might not have the flexibility to match it.
For a team like the Raptors, who are now building around Barnes, Ingram, and Barrett, finding the right backcourt piece is key. They need someone who doesn’t need the ball much, can knock down open shots, and hold his own on defence. That’s where Nickeil Alexander-Walker fits in.
In Minnesota, NAW proved to be a reliable off-ball threat. By early in the 2024–25 season, he was shooting 49.2 percent on catch-and-shoot 3s and 51.7 percent from the corners. That level of shooting would help Toronto right away. He’s not a pull-up shooter, but those players generally aren’t available at the price range that Alexander-Walker might command. Besides, the Raptors ranked just 23rd in the league in team 3-point percentage this year (34.8), and the floor often felt cramped. Adding a floor-spacer like NAW would give more breathing room for Barnes, Ingram, and RJ to operate.
Defensively, he brings even more value. Standing 6-foot-5 with a 6-foot-10 wingspan, Alexander-Walker can switch across the 1 to 3 position. He often took on the toughest perimeter matchups in Minnesota when Jaden McDaniels is off the court. According to ESPN, during the 2023–24 season he held opponents to 41.1 percent shooting as the contesting defender—fourth-best among all players who contested at least 500 shots. The Raptors, who ranked 24th in defensive rating last year, could use a boost like that on the perimeter.
Though he didn’t make any All-Defensive teams, Alexander-Walker quietly had one of the steadiest defensive seasons among rotation guards. He played in all 82 games—his second straight season of perfect attendance—and consistently took on tough matchups, whether chasing shooters around screens or switching onto bigger wings.
According to NBA.com’s tracking stats, opponents shot just 34.7 percent from 3 when guarded by him this season—a drop of 3.6 percent from their usual average. He also held up well inside the arc, particularly against two-pointers, where he posted a negative-2.1 field goal percentage differential. That’s quietly a great number for a guard, and it adds up: staying in front, contesting without fouling, and making life harder for whoever’s in front of him.
That kind of availability and versatility would be especially valuable in Toronto. Quickley played just 33 games for the Raptors this season. If healthy, IQ will of course be the starter—but over an 82-game stretch, NAW could easily step in when needed or hold down second-unit duties when Quickley is upright. He doesn’t need the ball to make an impact and fits the kind of defensive culture the Raptors are trying to get back to. He has the size to fit at the off-ball guard spot, too, giving Toronto plenty of lineup flexibility.
From a contract standpoint, the Raptors do have a chance. They’re expected to stay over the cap but under the first and second aprons, giving them access to the full mid-level exception—projected to be about $14.1 million for next season.
That might be just enough. According to Forbes Sports’ Mat Issa, Alexander-Walker’s next contract could land anywhere between $14 to $24 million per year. If the market heats up, Toronto might not be able to compete. But if teams prioritize bigger names and NAW’s value slips into the MLE range, the Raptors could have a real shot. The Raptors just saw the market for another shooting guard in Gary Trent jr. evaporate as he had to sign for the minimum with the Milwaukee Bucks. In other words, it’s unknown what the market will be like for middle-class players like Alexander-Walker in today’s CBA. It can be smaller than expected.
Alexander-Walker is from Toronto. He grew up here. He knows what basketball means to this city. Bringing in a local player who fits the system and understands the culture has real value. It’s not just about money—sometimes the right situation matters too.
READ NEXT: Which Raptors have underrated trade value?
