The Toronto Raptors have confirmed they have signed point guard Kyle Lowry to a contract extension.
While the Raptors did not disclose financial terms of the deal, The Associated Press reported last week it is a one-year, $31-million US extension.
Lowry, 33, is entering his eighth season with the Raptors after helping lead the team to the NBA title last year.
The Philadelphia native scored 26 points during the series-clinching Game 6 of the NBA Finals against the Golden State Warriors.
An NBA all-star for the past five seasons, Lowry is the franchise leader in the playoffs for games played (73), points (1,240), three-pointers (157), assists (462) and steals (101).
Lowry holds career averages of 17.4 points, 7.1 assists, 4.9 rebounds and 34.4 minutes in 497 games with Toronto.
“I’m very proud of what we have achieved with the Raptors, and I’m happy to be able to continue to call the Toronto my home,” Lowry said in a statement.
“Bringing a championship to the city of Toronto and the country of Canada has been one the best things I’ve done so far in my career, and I’ll push for that goal every single year I play this game.”
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The move comes a week before the Raptors open the regular season against the New Orleans Pelicans on Oct. 22.
“Kyle has been at the heart of every successful run our franchise has achieved the past seven seasons,” Raptors president Masai Ujiri said. “He is a competitor, a winner at every level and the engine that our players and city feed off from.”
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