Rather than wait to see what the restricted free-agent market had to offer, the Toronto Raptors and Gary Trent Jr. have agreed to terms on a contract extension.
Per Adrian Wojnarowski of ESPN, Trent Jr. signed a three-year, $54 million contract.
Toronto could have given Trent a qualifying offer valued at $4.74 million that would have made him a restricted free agent and eligible to match any potential offer sheet an opposing team gave him.
Coming off a disappointing 27-45 record, the Raptors have some key roster decisions to make this offseason. Kyle Lowry has signed with the Miami Heat, and Pascal Siakam is expected to miss the start of next season after undergoing shoulder surgery in June.
Trent is no longer one of those questions, solidifying his future in Toronto after being acquired from the Portland Trail Blazers in March as part of the Norman Powell trade. He had a breakout season in 2020-21, putting himself in line to receive a lucrative multiyear contract.
The Duke alum was a second-round pick by the Blazers in the 2018 NBA draft. He played sparingly as a rookie before taking on a prominent role off the bench in his second season. His 41.8 three-point percentage in 2019-20 was tied with Kyle Korver for ninth in the league.
Based on that performance, Trent assumed an even bigger role in 2020-21. He started 23 games for the Blazers between Jan. 25 and March 14 when CJ McCollum was out with a fractured foot.
After McCollum returned to the starting lineup, Portland used Trent as a trade chip to acquire Powell in an attempt to upgrade its defense for a playoff run.
The Ohio native started 15 of the 17 games he played for the Raptors down the stretch. He averaged 16.2 points per contest and put his shooting on full display in a 44-point outburst against the Cleveland Cavaliers on April 10. He shot 38.5 percent from three on 7.4 attempts per game for the season.
As a young player whose game is ascending, Trent has the potential to be one of the Raptors' best players as they embark on a new era.