Kyle Lowry officially opts out of contract with Raptors

Kyle Lowry is now a man without a team, as the All-Star point guard has officially opted out of his contract with the Toronto Raptors.

He had seven days following the Raptors' last game to do so.

The 31-year-old told reporters during his exit interview that he was planning on opting out of his final year to take a chance on cashing in on a larger deal.

As per his Bird rights, the Raptors can offer Lowry over $200 million on a five-year maximum contract. Should he decide to take his talents elsewhere, though, a max contract could make him a touch over $150 million instead.

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His option for the 2017-18 campaign was worth just $12 million.

The Raptors were bounced from the second round of the playoffs in a clean sweep at the hands of the reigning NBA champion Cleveland Cavaliers, with Lowry sitting both Games 3 and 4 due to an ankle injury.

Lowry missed 22 games during the regular season, with 21 of those absences coming after the All-Star break as a result of a wrist injury. He posted career highs nearly across the board, averaging 22.4 points on 46.4 percent shooting (including 41.2 percent from behind the arc), seven assists, 4.8 rebounds, and 1.5 steals in 60 appearances.