Raptors, Ross reach reported 3-year, $33M extension

The Toronto Raptors and swingman Terrence Ross have reached an agreement on a contract extension, the team announced. It's for three years and approximately $33 million, according to Yahoo Sports' Adrian Wojnarowski.

The negotiations came down to the 11:59 p.m. ET deadline Monday night, after reports varied whether the Raptors would re-up with the athletic wing they drafted No. 8 overall in 2012, or let him become a restricted free agent in the offseason.

Ross has been a mixed bag in his three-plus NBA seasons. He won the All-Star weekend Slam Dunk title as a rookie, and scored 51 points in a game as a sophomore, but has never really demonstrated consistency as a productive shooter on the wing. While his career field goal percentage is under 42 percent, he's also shot 37.5 percent from deep.

Ross lost his starter's spot at the three when the Raps signed DeMarre Carroll in the offseason. He's played well in three games this season coming off the bench, averaging 12.3 points in three games with a 46.2 percent clip from three.