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Report: Raptors and Jonas Valanciunas agree to contract extension

Toronto Raptors v Washington Wizards- Game Three

WASHINGTON, DC - APRIL 24: Jonas Valanciunas #17 of the Toronto Raptors rebounds against the Washington Wizards in Game Three of the Eastern Conference Quarterfinals during the 2015 NBA Playoffs on April 24, 2015 at Verizon Center in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2015 NBAE (Photo by Ned Dishman/NBAE via Getty Images)

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Jonas Valanciunas and the Raptors were reportedly near a four-year extension worth more than $60 million.

It appears they’ve finalized the terms.

Josh Lewenberg of TSN:

If it’s worth anywhere near $60 million over four years, the Raptors got a steal.

With the salary cap projected to skyrocket next season, a max extension would have projected to pay Valanciunas more than $93 million over four years. A lot of teams will have max-level cap space, some of which could use a center. I’m not sure Valanciunas would have gotten the full max as a free agent, but I bet he could have gotten more than $15 million per season.

Alas, we won’t find out, with Valanciunas apparently opting for the security of signing now.

The 7-foot-1 Valanciunas has developed nicely during his three NBA seasons. There’s no reason that shouldn’t continue, considering he’s just 23.

Valanciunas is a skilled interior scorer, and he rebounds pretty well. His defense needs work, and shoring up his play on that end of the court would go a long way in earning more minutes from Dwane Casey. But Valanciunas’ size and mobility gives him potential as a rim-protector.

The Raptors aren’t paying him for what he’s done. They’re paying him for what he’ll do the next four years, and I think that will work very well for Toronto.