Raptors' Kyle Lowry: Plans to opt of 2017-18 player option

Lowry plans to opt out of his $12 million player option for the 2017-18 season this summer, but hopes to re-sign with the Raptors, Ananth Pandian of CBS Sports reports.

Analysis:

Lowry inked a four-year, $48 million contract with the Raptors prior to the 2014-15 season, which was well before the league's salary cap started to rise significantly. By opting out next summer, Lowry should have one last opportunity to cash in on a major payday, making the decision an unsurprising one. Lowry has established himself as a franchise player for the Raptors during his four seasons in Toronto, so expect the team to make a competitive offer next summer to retain his services.