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Lowry re-signs with Raptors

Toronto, ON (SportsNetwork.com) - Kyle Lowry is officially staying in Toronto.

Shortly after the moratorium for free agency ended at midnight Wednesday, the Raptors announced a press conference to confirm the Lowry signing on Thursday morning.

Terms of the multi-year deal were not disclosed, but earlier reports had Lowry and the Raptors agreeing to a four-year contract worth $48 million.

"We made it known that our top priority heading into the offseason was to re- sign Kyle," said Raptors president and general manager Masai Ujiri on Thursday. "He was a key to our success last season and we are delighted that he wants to be here in Toronto to help us continue to build a championship program."

Lowry, 28, averaged 17.9 points and 7.4 assists in his second season with the Raptors, helping them reach the playoffs for the first time in six years.

The new deal reportedly includes an early termination option allowing Lowry to become a free agent after the third season.

Lowry was acquired in July 2012 in a trade with the Houston Rockets, who were reportedly one of the teams focusing on Lowry as a potential offseason addition.

In two seasons with Toronto, Lowry has averaged 15.0 points, 6.9 assists and 4.7 rebounds. He has career averages of 11.7 points, 5.4 assists and 3.8 rebounds in 506 NBA games for Memphis, Houston and Toronto.

07/10 11:06:11 ET

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Local
3rd
EDM 4
CAR 3
 
Final
SFG 2
KAN 3
Final
ORL 92
DAL 117
Final
TOR 83
NYK 80
Final
MEM 98
MIA 104
Final
CHI 112
MIN 113
Final
HOU 96
SAN 87
Final
UTA 100
PHO 105
 
3rd
LAL 73
SAC 60
 
2nd
GSW 63
DEN 53
 
Half
LAC 46
POR 54
 
Final
CIN 34
SFLA 17
Final
SALABAMA 27
TROY 13
4th
BSU 48
BYU 23
 
2nd
CAL 28
OREG 31
 
Final
NJD 2
DAL 3
Final
WIN 2
TAM 4
Final
COL 7
VAN 3
 
3rd
EDM 4
CAR 3
 
2nd Intermission
ANA 3
CLB 1