The team did not disclose details of the deal, but Sportsnet’s Michael Grange reports that it is a four-year, $130-million max contract extension that begins following the 2019-20 season.
“Pascal has been relentless in everything he has achieved,” Raptors general manager Bobby Webster said in a statement. “He has embraced our development philosophies from Day One, he’s one of us and a unique talent. He has improved himself every season without cutting any corners. He is a testament to hard work paying off and we’re thrilled that he will continue his career here in Toronto.”
The two sides had until Oct. 21 to agree to a new deal, otherwise Siakam would’ve become a restricted free agent in the summer of 2020.
The 25-year-old had a breakout 2018-19 campaign, putting up 16.9 points, 6.9 rebounds and 3.1 assists on 54.9 per cent shooting from the field and 36.9 from three. He helped the Raptors capture their first ever NBA championship and also won the NBA’s Most Improved Player Award last season.