Reports coming out of Lithuania have indicated that Jonas Valanciunas is finalizing a long-term extension with the Toronto Raptors. Lithuanian national team coach Jonas Kazlauskas says that JV is taking a leave from the national team to return to Toronto, to sign his long-term extension.
The original article is in Lithuanian, but has been transcribed by various fans and reporters.
Details should soon emerge. The max contract for Valanciunas this year would be approximately 95 million dollars over 5 years. With the new CBA kicking in, it does in fact make more sense to extend Val now, before he becomes a free agent next offseason (with a likely significant rise in max salary). If I were to guess, the contract will probably range between 12-14 million, but with the money that is being thrown around nowadays anybody’s guess is as good as mine.
Regardless, as a Raptor fan this is pretty good news. JV is 23 years old, and has shown a significant upside at such a young age. Locking him up before a potential breakout year may prove to be yet another brilliant move by Masai.
UPDATE – Marc Stein has confirmed the report. Less than the max is a pretty satisfactory deal.
ESPN sources say Valanciunas extension is not done but sides are in advanced discussions on four-year pact worth in excess of $60 million
— Marc Stein (@TheSteinLine) August 17, 2015
As reported, 4yrs/60m+ for JV would be a coup for TOR, max salary for next summer is 5/117m and 4/80m+max offer sheet from another team
— Bobby Marks (@BobbyMarks42) August 17, 2015
