Toronto Raptors re-sign Kyle Lowry to a three-year, $100 million deal

The Toronto Raptors have re-signed point guard Kyle Lowry to a three-year, $100 million deal, according to ESPN’s Adrian Wojnarowski.

For Kyle Lowry, his decision in free agency was all about staying “home.” That’s how the Toronto Raptors franchise point guard explained his decision to return to the Raptors in a Players’ Tribune article Sunday.

Here’s an excerpt of what Lowry said:

"When I had to make my free-agency decision, there was a lot going through my head, a lot of roads my mind was traveling down. Family, first and foremost, and what’s going to make them happy, and give them the best life. Basketball, of course, and where I’d like to play for these next several years. And then there was also the gut-check aspect — just what I was feeling in my heart.But for me, at the end of the day, this was an easy decision. And all of those roads … they all led me back to the same place: home.They all led me back to Toronto."

You can read his letter in full here, but let’s get into the details of his new deal a bit.

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For the Raptors, they got their term. The team was said to be set on signing Lowry to a three-year deal and they got their wish. Now with Lowry, DeMar DeRozan and Serge Ibaka locked up for the next three seasons, it’s clear management is giving this core a three-year window and will attempt to contend in the East.

As for Lowry, he got his money. Well, sort of. It’s not the full-max deal he might have been hoping for, but $100 million over three seasons — plus incentives that could push the deal even higher — is nothing to be upset about. It’s actually close to the max, minus the term, and I’m sure Lowry won’t feel “disrespected” or “under appreciated” with this contract.

Overall, it’s not a bad deal for either side. The Raptors get their point guard back on a term they’re comfortable with, and Lowry gets the pay day he was seeking. However, unless ownership is okay paying a hefty tax, the salary cap conundrum really begins for the Raptors now. Yes, it’s great to have Lowry back in the fold, but the Raptors have a lot of work left to do and it will be fascinating to watch what Masai Ujiri does with this roster.

Next: 3 free agents the Raptors could target

What do you think about Kyle Lowry’s new deal with the Toronto Raptors? Let us know your thoughts in the comments below.