Kelly Olynyk, Raptors Agree to 2-Year, $26.25M Contract Extension After Jazz Trade

The Toronto Raptors and center Kelly Olynyk have agreed to a two-year contract extension worth $26.25 million, according to ESPN's Adrian Wojnarowksi.

The $26.25 million represents the maximum extension amount that the 32-year-old was eligible for.

After the Raptors dealt All-Star forward Pascal Siakam to the Indiana Pacers, Toronto needed frontcourt help. The front office addressed the issue by acquiring Olynyk in a trade with the Utah Jazz on Feb. 8 while sending a package that included a 2024 first-round pick in return.

In nine games with Toronto, the former first-round pick has averaged 9.6 points and 4.2 rebounds in just 20.7 minutes per game. While his three-point shot hasn't remained consistent and is partially responsible for his team-worst -18.1 net rating, it's a safe bet that he'll get into a rhythm from behind the arc (via NBA.com).

Long-range shooting has been Olynyk's calling card throughout his NBA career, owning a three-point percentage of 36.9 percent on 3.2 attempts per game since he made his debut in 2013. In 50 games with the Jazz prior to the trade, he was connecting on 42.9 percent of his triples.

He'll provide spacing for Scottie Barnes, the former Rookie of the Year who earned the first All-Star nod of his career in 2024. Barnes loves to operate in the paint, choosing to finish through contact or draw extra attention before kicking the ball out to shooters. His 4.4 paint touches per game rank No. 2 on the team behind starting center Jakob Poeltl (per NBA.com).

Olynyk is also one of the league's most underrated passing centers, averaging 3.6 assists compared to 1.9 turnovers in only 23.4 minutes per game since the start of the 2021-22 season.

While the Toronto native hasn't exceeded expectations in the small sample size with his hometown team, the Raptors front office is willing to bet that he'll heat up from behind the arc and become a solid complementary option alongside the team's franchise player.