Jan 29, 2014; Toronto, Ontario, CAN; Toronto Raptors point guard Kyle Lowry (7) shoots a three point basket against the Orlando Magic at Air Canada Centre. The Raptors beat the Magic 98-83. Mandatory Credit: Tom Szczerbowski-USA TODAY Sports

Kyle Lowry, Toronto Raptors agree to four-year, $48 million deal

Toronto Raptors’ point guard Kyle Lowry was fantastic last season.

Lowry had the best season of his career and helped the Toronto Raptors put together there best campaign since Chris Bosh left for the Miami Heat. The Raptors got off to a very poor start but after trading Rudy Gay to the Sacramento Kings and putting the team in Lowry’s hands, they really took off. They wound up with a 48-34 record and won the Atlantic Division but were defeated by the Brooklyn Nets in seven games in the first round of the playoffs.

As Lowry hit free agency on Tuesday, several teams, most notably the Houston Rockets and Miami Heat, began their pursuit of Lowry.

However, it appears as though that pursuit was all for naught.

According to Adrian Wojnarowski of Yahoo Sports, citing a source, the Raptors and Lowry have agreed to a four-year contract that will pay him $48 million. Lowry’s last contract was half the size at four years and just $24 million. Lowry’s contract also includes and Early Termination Option he can use to become an unrestricted free agent after the third year of his deal, the same provision most stars have in their contract. The Miami Heat’s big three of forward LeBron James, big man Chris Bosh and guard Dwyane Wade and New York Knicks’ forward Caremlo Anthony all had that in their last contracts, which is why they are currently free agents.

Lowry averaged 17.9 points, 7.4 assists, 4.7 rebounds and 1.5 steals per game while shooting 42.3% from the field, 38.0% from beyond the arc and 81.3% from the charity stripe last season.

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Tags: Kyle Lowry NBA Free Agency Toronto Raptors