Raptors won’t have extension talks with DeMar DeRozan

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The Raptors spent a lot of money this offseason, bringing in DeMarre Carroll and Cory Joseph and locking up Jonas Valanciunas to a four-year extension. The four-year, $42 million deal that DeMar DeRozan signed in 2012 looked like an overpay at the time but has turned out to be terrific value. So much so that it’s a lock that he’ll opt out next summer and seek a new deal on the open market, a raise from the $10 million he would earn in 2016-17. The Raptors could sign him to a three-year extension if they wanted to, but GM Masai Ujiri says that’s not happening. Via Sportsnet:

“There will be no extension talks with DeMar [before the end of the 2015-16 season],” Ujiri told Free Association. “He can only extend for a certain amount of money and I just foresee that DeMar sees himself- and we see him- as more than that type of a player. So I think DeMar is going to wait to see how it goes this year and do the best deal for himself, and we’ll do the best deal for ourselves, too.”

With the market being what it is, and the amount of teams that will have cap space next summer, it’s highly likely that DeRozan will command something close to a max deal as a free agent. The most he could sign an extension for is $34.8 million over three years, and he could easily top that on the open market, whether it’s in Toronto or elsewhere. It would make no sense for him to sign an extension before he hits free agency.