Raptors Sign Kyle Lowry to Contract Extension

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Guard Kyle Lowry has reportedly signed a one-year extension to remain with the Toronto Raptors.

It's said to be worth $31-million.

Lowry was scheduled to become an unrestricted free agent at season's end.

The 33-year-old guard came to Toronto in a trade with the Houston Rockets in 2012 and was a key player in the Raptors' first-ever NBA championship run last year.