Kelly Olynyk, Raptors agree to two-year extension

Kelly Olynyk, Raptors agree to two-year extension

Roughly a month after acquiring him from the Utah Jazz ahead of the 2024 NBA Trade Deadline, the Toronto Raptors have agreed to a two-year, $26.5 million extension with big man Kelly Olynyk, ESPN NBA insider Adrian Wojnarowski first reported Monday.

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

Olynyk, a Canadian native, was in the final year of a three-year, $37.2 million extension with a 2023-24 cap-hit of $12.2 million. He was acquired by Toronto ahead of the deadline alongside Ochai Agbaji in exchange for Kira Lewis Jr., Otto Porter Jr. and a 2024 first-round pick.

The 32-year-old is averaging 8.3 points, 4.9 rebounds and 4.2 assists in 59 combined games (8 starts) this season, shooting 54.2 percent from the floor and 39.8 percent from deep. Though in nine games with the Raptors, he’s averaging 9.6 points, 4.2 rebounds, 2.9 assists and 1.6 steals on 46.0/26.3/85.2 shooting splits.

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Olynyk, who’s now arguably Toronto’s top-floor spacer in the frontcourt, is a good complementary backup to center Jakob Poeltl. Olynyk is also a good connector with good handle, though he is not the strongest defender around the rim, unlike Poeltl. He rewards Scottie Barnes, Immanuel Quickley and Toronto’s other ballhandlers extra space on the floor to operate, and could give the Raptors another movable contract to flip if it’s out of contention in 2024-25 or 2025-26.

Despite being winners of four of their last six, the Raptors remain on the outside-looking-in for the play-in Eastern Conference. At this time of publishing, they are the No. 12 seed at 23-38, 3.5 behind the Atlanta Hawks for the final play-in spot and 1.5 behind the Brooklyn Nets, who are 3-3 under new head coach Kevin Ollie.

Is this a good move for Toronto? Let us know in the comments!

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