NBA Free Agency: Kyle Lowry re-signs with Toronto Raptors

Kyle Lowry has agreed to a new contract extension with the Toronto Raptors. The team has now retained Lowry and Serge Ibaka.

The Toronto Raptors are bringing the band back together. Jurassic Park will remain contenders in the Eastern Conference as Kyle Lowry has agreed to re-sign with the team. After bringing back Serge Ibaka, Lowry’s decision to re-sign became easy.

Lowry announced his return via a heart warming letter in the Player’s Tribune:

"“I’m coming back to Toronto because my heart is telling me that it’s home — and because staying home, for me and my family, feels like the right thing to do,” Lowry writes. “My heart is telling me that this is the best city in the world, with the best basketball fans in the world. It’s telling me that the Raptors can be a championship-level team, sooner than later. And I’ll be honest (and don’t hate) — it’s telling me that I’ve still never had poutine.”"

Shams Charania of the Vertical also added the details of his contract. The extension will be for three years, approximately $100 million.

Lowry, 31, was the best remaining point guard on the market and landed a huge contract. Point guards have been paid handsomely this offseason including Jrue Holliday, Jeff Teague, and the new richest man in the NBA, Steph Curry.

Next: Will the Raptors pull together or come apart this offseason?

Lowry, the former 24 pick in the 2006 NBA Draft, has carved out a heck of a career thus far. The former Villanova product was originally drafted by Memphis but also spent time with Houston during his 11-year career. Lowry averaged 22.4 points, 7 assists, and 4.8 rebounds per game during the 2016-17 regular season. Toronto appears to have once again been a prime landing spot for free agents as the team was able to retain DeMar DeRozan last offseason.