Toronto Raptors Sign Key Trade Acquisition To Multi-Year Extension

The Toronto Raptors have re-made their roster this season, finally adding some floor-spacing to surround Scottie Barnes for the future. And one of those new pieces, veteran center Kelly Olynyk, has now been inked to a two-year extension to stay in his hometown.

Toronto Raptors center Kelly Olynyk has agreed on a two-year, $26.25 million contract extension, Jeff Schwartz of @excelbasketball tells ESPN. Deal is the max that Olynyk was able to extend on. pic.twitter.com/KjFBVsI15u
— Adrian Wojnarowski (@wojespn) March 4, 2024

It's a two-year, $26.25 million deal that kicks in next season; it was the maximum amount that they could have offered Olynyk, under the league's extend-and-trade rules. The $13M+ AAV is pretty much on par with the midlevel exception. Olynyk is currently on a soon-to-expire $12.4 million salary this season.

In nine games since coming to Toronto at the trade deadline from the Utah Jazz, Olynyk has been a stape on the second unit, playing 20.7 minutes a night, and has averaged 9.6 points, 4.2 rebounds and 2.9 assists. He has yet to get his shooting from the outside going, but he has a career mark of 37% from beyond the arc, and that is expected to come.

The Toronto-born center arrived last month along with Ochai Agbaji from the Jazz in return for a first-round pick in this year's NBA draft, plus Otto Porter Jr., and Kira Lewis Jr.

Photo: John E. Sokolowski-USA TODAY Sports