Jonas Valanciunas, Raptors Agree to New Contract: Latest Details and Reaction

As expected, the Toronto Raptors announced a four-year contract extension with center Jonas Valanciunas. Adrian Wojnarowski of Yahoo Sports reported the deal is worth $64 million and could rise to $70 million: 

ESPN.com's Marc Stein reported earlier this week that an agreement was imminent. Valanciunas traveled to Toronto from his native Lithuania, where he was preparing for the upcoming EuroBasket Tournament, to finalize terms.

The No. 5 overall pick in the 2011 draft, Valanciunas averaged 12.0 points, 8.7 rebounds and 1.2 blocks per game last season. He is the third extension-eligible player to ink a new deal, joining Portland's Damian Lillard and New Orleans' Anthony Davis. (Though Davis and Lillard are 2012 draftees, Valanciunas did not join the league until the 2012-13 season, making this his first possible window for an extension.)

Unlike the max extensions his predecessors signed, Valanciunas' deal represents a best-of-both-worlds scenario. The Raptors are understandably pleased to lock up a 23-year-old 7-footer who has the skills to be a second or third option in an elite offense. They're also getting him to sign a long-term deal before hitting restricted free agency, where a drunk-with-cap-space general manager could offer him a contract well beyond Toronto's comfort zone. 

"Precisely what Valanciunas is worth is a matter of debate," Michael Grange of Sportsnet wrote. "Earlier this summer some well-informed NBA media types believed Valanciunas would be able to command something close to a maximum contract either this summer or next."

Valanciunas, meanwhile, gets a deal that would have been around his max under the previous cap system without really accomplishing all that much. The Raptors have clearly not been comfortable making him a true focal point in their offense yet; his usage rate has gone up just 2.2 percent since his rookie campaign. Part of that is schematic—he averaged almost five fewer touches per game than Carlos Boozer (38.7 compared to Boozer's 43.6) last season—but it's also because Valanciunas tends to settle for a background role. He has attempted 15 shots or more in eight games for his entire career.

That said, there is reason for optimism. For one, it's not entirely Valanciunas' fault he receives fewer touches than he should. It's the job of Dwayne Casey and the team's point guards (specifically Kyle Lowry) to get the ball in his hands. He shot 57.2 percent from the floor last season, flashing an impressive array of post moves and the ability to finish after offensive boards.

Verticality has also been Valanciunas' friend. Opponents shot 46.5 percent when Valanciunas was within five feet of the rim, a rate that puts him among the NBA's best rim protectors. Bigs who protect the rim get paid; Omer Asik landed a $60 million deal this offseason without a discernible offensive skill. The Raptors' signing Valanciunas at a similar price could be a steal as the cap keeps rising. 

With his ability to impact opposing offenses, Valanciunas figures to be a vital part of Toronto's efforts to build on a campaign that saw the Raptors go 49-33 before the Washington Wizards swept them in the opening round of the playoffs.

Follow Tyler Conway (@tylerconway22) on Twitter.

Stats via NBA.com.