Report: Raptors reach 2-year, $26.25 million contract extension with Kelly Olynyk

Kelly Olynyk, a Toronto native, was set to be a free agent after this season

The Toronto Raptors are keeping Kelly Olynyk around.

Olynyk and the Raptors agreed to a two-year, $26.25 million contract extension Monday, according to ESPN’s Adrian Wojnarowski. Olynyk was in the final year of a three-year deal he signed with the Detroit Pistons. He’ll now be with the Raptors through the 2025-26 season.

Olynyk, a Toronto-area native, was dealt to the Raptors just before the deadline earlier this year by the Utah Jazz. Olynyk and Ochai Agbaji went to Toronto in exchange for Otto Porter Jr., Kira Lewis and a first-round draft pick.

Toronto marked the fifth team Olynyk has been on in the past four seasons. Now, it finally seems like he can settle down in one place, at least for the immediate future.

The Raptors traded for Kelly Olynyk ahead of the deadline earlier this year, and now have him locked down through the 2025-26 season.
The Raptors traded for Kelly Olynyk ahead of the deadline earlier this year and now have him signed through the 2025-26 season. (Mark Blinch/Getty Images)

Since arriving in Toronto, Olynyk has averaged 9.6 points and 4.2 rebounds off the bench in nine games. He had 16 points and 10 rebounds in the team's loss to the Golden State Warriors last week, which marked his first double-double and best overall output with the franchise.

The 32-year-old, who was selected with the No. 13 overall pick in the 2013 NBA Draft out of Gonzaga, got his start with the Boston Celtics. He then had short stints with the Miami Heat, Houston Rockets, Pistons and Jazz before joining Toronto. His new contract was the max deal he was eligible to sign ahead of the June 30 deadline.

The Raptors hold a 23-38 record headed into a matchup with the New Orleans Pelicans on Tuesday. They sit 12th in the Eastern Conference standings and trail the Atlanta Hawks by 3.5 games for the final playoff spot in the East. Since winning their first NBA title in 2019, the Raptors have won a single playoff series and have missed the postseason two of the past three years.