Grade the deal: Raptors trade for Brandon Ingram looks slightly better following contract extension

The Toronto Raptors made one of the more confounding trades of the deadline, acquiring Brandon Ingram from the New Orleans Pelicans in exchange for Bruce Brown Jr., Kelly Olynyk, and a first-round pick.

That is undeniably strong value for Ingram in a vacuum, but the fit is... complicated. Masai Ujiri loves long, athletic, multi-faceted wings, so the long-term vision of Scottie Barnes and Ingram makes sense logically. Factor in the financial implications of the trade, however, and it's fair to question the timing of this move for the 16-win Raps.

Ingram consummated his union with the Raptors on Tuesday, inking a three-year, $120 million extension that ties him to the organization through the 2027-28 campaign.

Toronto now has $174 million annually wrapped up in Ingram, Barnes, R.J. Barrett, Immanuel Quickly, and Jakob Poeltl. That is a hefty commitment to a not-too-great core, and it limits the Raptors' ability to build out the roster around Ingram without some luck in the NBA Draft — luck Ingram's presence works in direct opposition to.

Rather than bottoming out and taking the patient approach, Toronto is essentially pushing all its chips in on a Play-In roster. That strategy has left teams in inescapable purgatory before; just ask the Bulls. Ingram is a talented player, but with such a muted trade market, it's fair to wonder which other teams would've lined up a deal worth $40 million-plus per season for Ingram. The Raptors were bidding against themselves it seems.

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Raptors extend Brandon Ingram after unexpected trade deadline acquisition

Ingram, 27, is a one-time All-Star who has spent the majority of this season battling an ankle injury. He has not stepped on the floor since Dec. 7, with 18 games under his belt in 2024-25. The former No. 2 pick is averaging a healthy 22.2 points, 5.6 rebounds, and 5.2 assists on .465/.374/.855 splits, but the elements of his game that muddied the fit in New Orleans don't exactly disappear in Toronto.

It's fair to wonder how effectively the Barnes-Ingram, jumbo ball-handling setup actually works out. This Raptors team has the length and athleticism to defend at a high level, but there are increasingly prevalent mouths to feed offensively, all without the proper No. 1 option that is essential to genuine contention.

The Raptors are effectively in cap hell after this move. The league's new CBA is written to restrict maneuverability along the margins for teams with lofty cap sheets. Toronto does not have the flexibility to sign another star in free agency, nor even a top role player. This is more or less the core moving forward, with Ujiri hoping to unearth gems through the draft and win through trades, which is a bold (and exceedingly risky) strategy.

Toronto didn't give up much to land Ingram, but this move does not catapult them over the extensive middle tier of postseason hopefuls in the East. Now locked up for three more years, Ingram will either need to deliver results well above expectations, or suffer the fate of an overpaid complementary star asked to carry more than he can realistically handle on a mediocre squad perpetually pegged for the 10th seed.

We handed a C+ grade to the Raptors when the trade was made, understanding that Ingram could realistically leave in the offseason. This extension does more firmly justify the deal at first blush, but it also leaves Toronto in a complex financial straitjacket. In that sense, one could almost view the extension, at such an exorbitant number, as a negative.

Brandon Ingram contract grade: C