NEW YORK: Five-time NBA All-Star guard Kyle Lowry has agreed to a one-year contract extension with the reigning champion Toronto Raptors worth $31 million, ESPN reported on Monday (Tuesday in Manila).

The move takes Lowry out of next July’s free agency market and follows the $33.4 million the 33-year-old will make this year in the final season of his expiring deal, according to agent Mark Bartelstein, ESPN reported.

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