TORONTO — Paris for the summer, and Toronto for the foreseeable future.
That’s what Kelly Olynyk was hoping for as he entered into negotiations for a contract extension with the Toronto Raptors. It was on the table almost as soon as the Toronto-born big man was acquired at the NBA trade deadline and was made official Monday evening.
The deal is for the most he was eligible on an extension — a two-year term with a five per cent raise on his current salary. It works out to $26.2 million and will keep the 11-year veteran under contract through the end of the 2025-26 season, when he’ll be 35.
From the Raptors' point of view, the versatile seven-footer is an excellent fit for the way head coach Darko Rajakovic wants to play offensively, with an emphasis on ball movement, player movement and spacing behind the three-point line, all of which are strengths of Olynyk’s. Heading into Toronto’s game against the visiting New Orleans Pelicans on Tuesday night, Olynyk is averaging 8.3 points, 4.9 rebounds and 4.2 assists in 20.4 minutes per game while shooting 54.2 per cent from the field, including 39.8 per cent from three.
From Olynyk’s point of view, it’s an opportunity to keep playing where he’s always wanted to play anyway.
“For me, they traded for me, they wanted me here,” said Olynyk, when asked if he thought about waiting until free agency opened on July 1 to see if there was a longer or more lucrative deal available. “… I’ve wanted to be here since I was four years old, so it’s special, and to create that trust and that bond, hopefully be here for the rest of my career.”
The timing of the contract also means that Olynyk can have peace of mind this summer as he leads the Canadian men’s team to the Olympics for the first time since 2000.
The men’s team is schedule to open training camp in late June and has an exhibition game in Las Vegas against Team USA on July 10. Since free agency doesn’t open until July 1, not having a deal in place could have held Olynyk back — something he didn't want to deal with after working so long to help Canada get back to the Summer Games.
“I mean, that was definitely a big part of it as well, getting this out of the way,” said Olynyk, whose mother, Arlene, was one of the original Raptors scorekeepers from 1994 to 2004 and whose father, Ken, was the head coach at University of Toronto from 1989 to 2002, as well as a head coach with the Canadian junior national team.
“To not have that on your plate and your mind, just be able to play free and easy, and then obviously in the summer just be able to work out, train and be present right at the start with no complications is a big factor, and that's also played a huge part in decision.”
The deal works well for the Raptors also. Signing Olynyk means that he’s now on their balance sheet this summer for just under $13 million. Otherwise, there would have been a cap hold of $18.2 million on the books. As a result, it is easier for them to carve some meaningful space under the salary cap if they want to sign a free agent or trade for a player under contract.
The deal also means that between Olynyk and Jakob Poeltl, the Raptors have two capable big men under contract for the next two seasons, allowing them to focus in other areas as they rebuild around All-Star forward Scottie Barnes.
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