Lowry, Ibaka to stay with Raptors
Toronto commits $165 million total to keep two stars
Kyle Lowry is staying home, saying he wants to finish what he started in Toronto.
Lowry announced on The Players’ Tribune site Sunday that he will resign with the Raptors, adding that it was an easy decision.
Lowry will sign a three-year deal worth $100 million, according to a person with knowledge of the negotiations who spoke to The Associated Press on condition of anonymity because terms were not revealed publicly.
“It was up to me to decide whether this thing we have — is it worth sticking around for, and running it back again, and seeing if we can take that next step?” Lowry wrote. “And like I said — to me, that was an easy decision. The answer is yes.”
The three-time All-star averaged 22.4 points and 7.0 assists last season for the Raptors, who also struck a deal to retain forward Serge Ibaka earlier Sunday.
“If you’re looking for people to believe in — choose the people who believed in you first,” Lowry wrote. “And if you start something? Man, you finish it.”
So Toronto’s star-powered backcourt is now set for at least the next three years, after shooting guard Demar Derozan got a five-year deal worth $139 million last summer.
Lowry and Derozan led Toronto to the Eastern Conference finals in 2016, and the Raptors were out in the second round this year in part because Lowry got hurt during the postseason.
“I don’t think we’ve reached our true potential,” Lowry wrote.
He was one of the most-coveted point guards on the market this summer, perhaps only behind Golden State’s Stephen Curry. And he’s going back to a team that has posted consecutive 50-win seasons and reached the playoffs in each of the last four years.
“I’m coming back to Toronto because my heart is telling me that it’s home,” said Lowry, noting that he still hasn’t had poutine — a wildly popular dish in Canada.
When Toronto got Ibaka before the trade deadline last season, the Raptors made clear they had no intentions of letting him walk away this summer in free agency.
Now that’s been proven. Ibaka agreed to terms on a three-year contract worth $65 million, a person with knowledge of the negotiations told AP.
The 27-year-old Ibaka was traded to Toronto from Orlando late last season. He averaged 14.2 points and 6.8 rebounds in 23 games with the Raptors.
In other moves:
■ Big man Paul Millsap reportedly agreed to terms with the Denver Nuggets on a three-year deal worth $90 million.
The 32-year-old Millsap gives the young Nuggets a proven, defensive-minded veteran who should fit perfectly with coach Michael Malone and budding star Nikola Jokic.
Millsap is a four-time All-star who averaged a career-high 18.1 points last season with the Atlanta Hawks to go with 7.7 rebounds and 3.1 assists.
■ Forward Taj Gibson reportedly agreed to terms with the Minnesota Timberwolves on a two-year, $28 million deal.
Gibson had spent the bulk of his career with the Chicago Bulls, where he was known for his grinding, hardnosed, defensive-minded attitude.
■ Guard Kyle Korver reportedly reached agreement with the Cleveland Cavaliers on a three-year deal worth $22 million.
Korver joined the Cavs midway through last season in a trade from Atlanta. The 36-year-old is one of the league’s best outside shooters and made it clear he wanted to stay with Cleveland after his first trip to the Finals in his 14th season in the league. He led the league in 3-point shooting last season, hitting 45.1 percent of his shots, and his shooting only improved once he joined Lebron James and the Cavs.
■ Forward Nene reportedly agreed to terms with the Houston Rockets on a three-year deal worth $11 million.
The deal came one day after an initial agreement fell apart because it violated rules of the Collective Bargaining Agreement. Nene initially agreed to a four-year, $15 million deal, but the deal violated a rule for players who will be 38 during the contract and so he became a free agent again.
■ Guard Justin Holiday reportedly agreed to terms with the Bulls on a two-year, $9 million deal.
■ Shooting guard Jodie Meeks agreed to a deal with the Washington Wizards, according to the agency that represents him. An unnamed source said the agreement is two years for $7 million.