Raptors Said to be Nearing Extension With Pending Free Agent
Kelly Olynyk intends to remain in Toronto. According to Doug Smith of the Toronto Star on Thursday, the 6-foot-11 Canadian center is anticipated to sign a multi-year extension with the Toronto Raptors at some point in the coming weeks. Prior to last week’s trade deadline, Toronto traded 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 view Olynyk as a valuable veteran 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. If he doesn’t sign an extension, he will become an unrestricted free agent this summer, but he has expressed interest in signing a long-term contract to stay in Toronto.
Regarding the possibility 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 remove Olynyk’s $23.2 million cap hold for the summer, Toronto will want to finalize a deal with him before the offseason begins. Should the Raptors give up the rights to Bruce Brown and Gary Trent Jr., they might be able to clear some cap space, assuming that figure is more in line with his current $12 million yearly contract value.
