Kyle Lowry is expected to sign a one-day contract with the Raptors this morning and formally retire, with the team scheduling an event and press conference for Tuesday, July 7 that sources say will end in Lowry formally calling it a career. He left as Toronto's all-time leader in assists (4,277), steals (873), 3-pointers (1,518), triple-doubles (16), and total win shares (74.5), and the Raptors are planning to retire Lowry's No. 7 jersey during the 2026-27 season, making him just the second player in franchise history to receive that recognition after Vince Carter.
The timing is not an accident. Kawhi Leonard reportedly is returning to Toronto, where he played during the 2018-19 season and won NBA Finals MVP as he led the Raptors to the 2019 NBA championship, with the LA Clippers agreeing to trade Leonard back to Toronto in exchange for Brandon Ingram, Gradey Dick, and future draft picks, the other half of the 2019 title engine, and pairing that trade with Lowry's sendoff lets the front office frame a rebuild around nostalgia rather than uncertainty. That is a marketing decision as much as a basketball one, and it works only if the Toronto Raptors are expected to begin negotiations on an extension with Kawhi Leonard this week after they complete their trade for the All-NBA forward and produces a roster good enough to justify the emotion.