Former Toronto Raptors point guard Kyle Lowry has joined the Miami Heat via a sign-and-trade agreement. His contract will be for three seasons and $85 million, according to Shams Charania of The Athletic.
The team announced the move on Friday.
— Miami HEAT (@MiamiHEAT) August 6, 2021
— Kyle Lowry (@Klow7) August 2, 2021
Lowry, 35, brings experience and championship pedigree to the Heat, who also agreed to a lucrative contract with franchise cornerstone Jimmy Butler as free agency opened Monday. Finalists in 2020, the Heat were swept by eventual champion Milwaukee in the first round this season.
A six-time All-Star, Lowry helped lead the Raptors to their only championship in 2019. He averaged 17.2 points, 7.3 assists and 5.4 rebounds with Toronto last season.
Veteran guard Goran Dragic is headed to Toronto in the sign-and-trade deal for Lowry. Dragic said farewell to Miami in a social media post on Tuesday.
— Goran Dragić (@Goran_Dragic) August 3, 2021
Miami made the biggest early splash, not just landing Lowry but agreeing to terms with 3-point specialist Duncan Robinson on a deal that would be worth nearly $90 million if all five years are completed. Robinson, a person with knowledge of the deal said, agreed to a contract where four years are guaranteed and the fifth is only so partially. The Heat also lured P.J. Tucker away from NBA champion Milwaukee; Tucker will make around $7 million this season in Miami and holds an option to remain there in 2022-23.
And Miami isn’t done: Not only is this the summer where Bam Adebayo’s five-year, $163 million contract agreed to last fall kicks in, but the Heat plan to finalize an extension that would be worth an average of roughly $45 million annually with Jimmy Butler later this week. Butler and the Heat cannot begin those talks until Friday at the earliest by league rule.
Lowry is leaving Toronto after nine seasons there and helping the Raptors win the 2019 NBA championship. Considered by many the greatest Raptor ever, it’s fitting that his last move with the team amounts to another assist — a sign-and-trade to make sure Toronto got some assets back instead of just seeing him leave as a free agent.
Lowry thanked Raptors fans and the city of Toronto via Instagram.
— TSN (@TSN_Sports) August 5, 2021
Information from The Associated Press was used in this report.