Rumor Has It That Raptors and Pending Free Agent Are Nearing an Extension
According to Doug Smith of the Toronto Star on Thursday, the 6-foot-11 Canadian center is anticipated to sign a multi-year agreement with the Toronto Raptors at some point in the coming weeks.
Prior to last week’s trade deadline, Toronto sent Otto Porter Jr., Kira Lewis Jr., and Toronto’s least valuable 2024 first-round pick to the Utah Jazz in exchange for Olynyk and Ochai Agbaji. The Raptors made it apparent after the deadline that they saw Olynyk as a vital experienced and floor-spacing big man who will likely be able to support Toronto’s young core in the future.
“I believe our particular perspective of him is that he possesses a steady hand,” stated Bobby Webster, general manager of the Raptors, on Thursday. “We are thrilled to have Kelly here. The discussions have been excellent. I believe he is genuinely eager to be here.
Olynyk signed a three-year, $37.2 million contract in 2021, and he is currently in the final year of it. He will soon become if he doesn’t sign an extension, he will be free to sign with any team this summer; nonetheless, he has expressed desire in signing a long-term contract to stay in Toronto.
Regarding the potential of staying with the Raptors after this season, Olynyk remarked, “I would love to.” “Hopefully that works out, I’d love to be here for the rest of my career.”
According to Smith, Olynyk, 32, is anticipated to ink a two-year contract with a possible third-year option.
In order to release Olynyk’s $23.2 million cap hold for the summer, Toronto will want to finalize a deal with him before the offseason begins. If that figure is more in line with his current $12 million yearly deal worth, the Raptors might be able to release some budget space should the team Give up your rights to Bruce Brown and Gary Trent Jr.