Toronto Raptors re-sign Serge Ibaka to three-year, $65 million deal

The Toronto Raptors re-signed their second most important free agent Sunday, inking forward Serge Ibaka to a three-year, $65 million deal.

According to ESPN’s Adrian Wojnarowski, the Toronto Raptors have re-signed forward Serge Ibaka to a three-year, $65 million deal.

Although there was interest from both the Houston Rockets and Miami Heat, it felt like it was only a matter of time until the Raptors reached an agreement with Ibaka. The 27-year-old forward expressed his desire to stay in Toronto multiple times during the season, so seeing him re-sign isn’t a surprise.

What might surprise some, though, are the terms of the deal. Many pundits expected the Raptors to re-up Ibaka for four or five years, but somehow Masai Ujiri managed to sign Ibaka for only three, which is a huge win for the Raptors and now potentially sets them up to have both Ibaka and DeRozan, who has a player option in three years time, become free agents in 2020.

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As for his salary, the $21 to $23 million he will receive ($20M in year one, $21M in year two and $23M in year three, according to Spotrac.com) is right around what he’s worth based on the current NBA landscape.

For Ibaka, this deal pays him the contract he was likely looking for and also leaves him with a chance to earn another contract since he will be 31 years old once this deal expires. Overall, it’s a good deal for both sides.

If you want to try to read between the leaves a bit here with this deal, it likely means Kyle Lowry is close to re-signing, too. Ibaka and Lowry share the same agent and I would imagine Ujiri has at least worked out the framework of what a new deal would look like for Lowry. Plus, the market hasn’t exactly unfolded in Lowry’s favour and a return to the Raptors seems inevitable at this point.

Based on Toronto’s current situation, I would guess that Lowry signs a three-year deal with the Raptors worth somewhere around $87 million. The interesting part to watch with Lowry will be whether he gets a fourth-year option, and whether it is guaranteed or partially guaranteed. It’s a minor detail on the surface, but for a cap-strapped team like the Raptors it matters greatly.

Next: 3 free agents the Raptors could target

What do you think about the Toronto Raptors re-signing Serge Ibaka? Do you like the terms of the deal? Let us know your thoughts in the comments below.