Report: Raptors and Jonas Valanciunas agree to contract extension

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Jonas Valanciunas and the Raptors were reportedly near a four-year extension worth more than $60 million.

It appears they’ve finalized the terms.

Josh Lewenberg of TSN:

If it’s worth anywhere near $60 million over four years, the Raptors got a steal.

With the salary cap projected to skyrocket next season, a max extension would have projected to pay Valanciunas more than $93 million over four years. A lot of teams will have max-level cap space, some of which could use a center. I’m not sure Valanciunas would have gotten the full max as a free agent, but I bet he could have gotten more than $15 million per season.

Alas, we won’t find out, with Valanciunas apparently opting for the security of signing now.

The 7-foot-1 Valanciunas has developed nicely during his three NBA seasons. There’s no reason that shouldn’t continue, considering he’s just 23.

Valanciunas is a skilled interior scorer, and he rebounds pretty well. His defense needs work, and shoring up his play on that end of the court would go a long way in earning more minutes from Dwane Casey. But Valanciunas’ size and mobility gives him potential as a rim-protector.

The Raptors aren’t paying him for what he’s done. They’re paying him for what he’ll do the next four years, and I think that will work very well for Toronto.