Raptors Extension for Kelly Olynyk Really Helps Both Sides Moving Forward

The Toronto Raptors extension with Kelly Olynyk is the kind of deal that made too much sense to not ink before the end of the season

An extension for Kelly Olynyk always made the most sense for everyone.

Sure, Olynyk could have played hardball with the Toronto Raptors. He could have waited for the summer, maybe eked out more money, or another year had he taken extension talks down to the wire or hit the open market.

But for Olynyk, sticking in Toronto on a two-year, $26.25 million extension, his maximum allowable extension as ESPN reported, made too much sense.

“For me, they traded for me, they wanted me here,” he said Tuesday following morning shootaround for the Raptors. “Just to reciprocate that love and show that I do want to be here, too. I’ve wanted to be here since I was four years old. So, it’s special and to create that trust and that bond, hopefully, be here for the rest of my career.”

We’ll get to the niceties in a moment. But for Toronto, this was a savvy piece of business too.

Had the two sides not come to terms on a new contract, Olynyk would have hit free agency with a $18.3 million cap hold on the books for Toronto. By inking this deal now, the Raptors have created $5.5 million in added flexibility as Olynyk’s new $12.8 million salary for next season will take the place of that cap hold.

In reality, it likely won’t matter too much for the Raptors. Toronto would have to decline Bruce Brown Jr’s option and renounce their Bird Rights to both Brown and Gary Trent Jr. to create roughly $30 million in cap space. That seems highly unlikely, but it’s possible and the Olynyk deal has made that path a little more convenient should the right free agent target or trade opportunity become available.

For Olynyk, inking the deal now takes some weight off his shoulders as he can enter the summer as a committed member of the Canada men's national basketball team. Traditionally, players without long-term contracts have been reluctant to play in international competition because of the injury risk, but Olynyk shouldn’t have to worry about that now.

“That was definitely a big part of it as well,” he admitted. “(Team Canada’s) training camp starts a little bit before free agency, I think. So to not have that on your plate and your mind, just be able to play free and easy and then obviously in the summer just be able to work out, train, and be present right at the start with no complications is a big factor.”

For an organization that’s historically struggled to pursue free agents and at times retain their own, contract discussions with Olynyk sounded pretty straightforward. It definitely helped that Olynyk is from Toronto, he admitted, and that’s an aspect of negotiations the Raptors seem well aware of.

“Obviously playing in your home country, for your home team is pretty special,” said Olynyk who noted his fit with the organization played a big part as well. “It’s a unique situation, everyone doesn’t always get to experience.”

The Raptors aren’t going to prioritize a player’s passport over their talent by any means, but if a talented player who fits with the organization just so happens to be a little more incentivized to stick with the organization long-term, that won’t go unnoticed either.

Now Toronto's frontcourt appears set for the next couple of seasons with Olynyk and Jakob Poeltl both under contract through at least 2025-26. It may not be the most exciting frontcourt tandem, but on a team that's undergoing a youth movement elsewhere on the roster, having a pair of veterans around to stabilize the center position certainly can't hurt.