Raptors signing Trent Jr. to "lucrative" contract extension: report

The Toronto Raptors aren’t done for the day yet.

Per Bleacher Report’s Chris Haynes, the Raptors and Gary Trent Jr. are working on a “lucrative” contract extension for the 24-year-old guard.

Toronto Raptors and Gary Trent Jr. — with CEO of Klutch Sports Rich Paul and agent Lucas Newton — are working on finalizing a lucrative multiyear extension, league sources tell @NBAonTNT, @BleacherReport.

— Chris Haynes (@ChrisBHaynes) July 1, 2023

With a June 20 deadline as to if he’d pick up or decline his player option with Toronto for next season, a report from Chris Haynes earlier this month indicated that Trent Jr. opted for the latter, avoiding unrestricted free agency this summer, with the team later confirming the news.

The 24-year-old guard has been a regular in the Raptors’ rotation since coming over in a 2021 trade from the Portland Trail Blazers, but had a disappointing end to the 2022-23 campaign after missing a seven-game stretch in mid-March, playing just 17 minutes and putting up only two points in the Raptors’ play-in loss to the Chicago Bulls this past spring.

Trent Jr. averaged 17.4 points, 2.6 rebounds, and 1.6 assists in 66 games for the Raptors this season, his third with the team.

He played 69 of 70 games as a starter in the 2021-22 season but was delegated to the bench for long portions of the 2022-23 season, particularly after the Raptors acquired Jakob Poeltl, who himself signed a four-year deal worth a reported $80 million earlier today.

More to come…