TORONTO — Kyle Lowry is staying with the Raptors after leading them to the Atlantic Division title last season.
The point guard has agreed to re-sign with the Raptors, his agent confirmed Wednesday night. Yahoo! Sports reported that the deal was for four years and $48 million.
Contracts can’t be signed until July 10.
Lowry averaged career highs of 17.9 points and 7.4 assists for the Raptors, who at 48-34 were one of the NBA’s biggest surprises last season. They were expected to be one of the league’s worst teams, particularly after trading forward Rudy Gay to the Sacramento Kings early in the season, but they instead nearly reached the Eastern Conference semifinals before falling to the Brooklyn Nets in seven games.
Toronto was led by its guard tandem of Lowry and All-Star DeMar DeRozan, who will stay together for next season.
Lowry posted a picture of himself on Twitter in a Raptors jersey, writing that Toronto would be his home city.
Lowry was considered the top point guard available and reportedly targeted by contending teams such as the Miami Heat and Houston Rockets during free agency before deciding to stay put.
Lowry also has played for Memphis and Houston, which traded him to Toronto in 2012. The 2006 first-round draft pick by the Grizzlies out of Villanova has career averages of 11.7 points and 5.4 assists per game.