Report: Raptors will offer Kyle Lowry contract that starts at $12 million

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The Raptors seem serious about re-signing Kyle Lowry.

And they’re offering a contract that will be extremely difficult for Lowry to reject.

Marc Stein of ESPN:

Stein is responding to a number Marc J. Spears of Yahoo Sports since retracted, so ignore the $14.5 million starting salary. The report is $12 million.

For a bird-rights player like Lowry, his salary can increase or decrease annually by up to 7.5 percent of his first-year salary. That means a deal that starts at $12 million could be worth anywhere between $51 million and $69 million over five years – and any portion of that could be unguaranteed. Knowing the starting salary is an indicator, but it’s not enough to show the true value of the contract.

Soon, we’ll get more clarity on Toronto’s offer. Either way, these are substantial numbers for Lowry.