The Toronto Raptors have reportedly agreed to a contract extension with Kelly Olynyk. This extension is a two-year, $26.25 deal. Because Olynyk’s contract was set to expire at the end of the season, the Gonzaga alum is now under contract through the 2025-26 NBA season.
Toronto recently acquired the Canadian native from the Utah Jazz at the 2024 NBA Trade Deadline. Per Raptors beat writer Josh Lewenberg, both sides had interest in an extension once Olynyk joined the team:
Olynyk and the Raptors have been working towards an extension since he was acquired at the deadline. The term (2 years) is the most he was eligible for under the league’s extend-and-trade rules, and the cost is on par with the MLE. Good deal for player and team.
So far, Olynyk has played nine games for the Raptors, coming off the bench each time. In those games, Olynyk is averaging 9.6 points, 4.2 rebounds, and 2.9 assists per game. Although his shot has not been falling with the Raptors (46% from the field and 26.3% from the three-point line), Olynyk is a valuable asset to the Raptors.
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
NBA News: Toronto Raptors Agree to Extension With Big Man
What Kelly Olynyk’s Contract Extension Means for the Toronto Raptors
Since joining the NBA in 2013, Olynyk has been a reliable offensive big man for every team he has been a part of. Olynyk is a good perimeter shooter who can help stretch the floor. Specifically with the Raptors, his fit next to a guy like Scottie Barnes is good on paper. Additionally, even as a big man, is capable of creating his own shot. Furthermore, Olynyk is a very underrated playmaker and can provide a new dynamic to the Raptors’ offense.
On the flip side, Olynyk is not a great defender and, due to his perimeter-centric playstyle, is just an average rebounder. Additionally, Olynyk can be very inconsistent. That said, the 32-year-old big man is still a good player to have. Additionally, Olynyk has publicly expressed his desire to remain with the Raptors for the remainder of his playing career.
Strictly from an offensive standpoint, Kelly Olynyk has potential to play that Marc Gasol role for the Scottie Barnes-era.
Really excited to see Kelly’s playmaking in the long run. pic.twitter.com/TKVxwqAAJh
— عمر عثمان 🇦🇫 Mike Tyson’s Translator (@OmerOsman200) February 27, 2024
The Last Word
With a 23-38 record, Toronto currently owns the No. 12 seed in the Eastern Conference. Additionally, they are 3.5 games back of a Play-In spot. Whether they can have a late-season push to advance to the tournament or not is unknown. Regardless, this is a good signing for both sides beyond this season. The Raptors are a young team and have the potential to contend in the future. Olynyk is a veteran who has been to the NBA Finals before and has played for multiple teams. His presence is important to have next to young guys like Barnes and RJ Barrett. Plus, Olynyk’s fit with the Raptors is good for the long haul.
