The Raptors and newly acquired forward Brandon Ingram have reached an agreement on a three-year contract extension, according to Shams Charania and Bobby Marks of ESPN (Twitter link), who hear from Ingram’s agents at Klutch Sports that the deal will be worth $120MM and will feature a player option for the 2027/28 season.
Ingram was traded from the Pelicans to the Raptors last week in a deal that sent Bruce Brown, Kelly Olynyk, and two draft picks (one first-rounder and one second-rounder) to New Orleans.
Ingram had spent the previous five-and-a-half seasons with the Pelicans after having been a centerpiece of the team’s return in 2019’s Anthony Davis blockbuster with the Lakers. From 2019-25, Ingram averaged 23.0 points, 5.2 rebounds, and 4.3 assists per game in 305 total outings for New Orleans, with a .472/.372/.847 shooting line and a 2020 All-Star berth.
The Pelicans and Ingram were unable to come to terms last offseason – or during the first half of this season – on a new contract that would extend the 27-year-old’s $36MM expiring deal, which led to the decision to trade him.
The Raptors were clearly more comfortable with the idea of investing in Ingram — general manager Bobby Webster said after last week’s trade that the front office wouldn’t have made the trade if there wasn’t “a comfort level with (the contract) he was looking for.”
Recently traded players face certain limitations on the extensions they’re permitted to sign, but Ingram’s new contract will fall within those limits (which include a 20% first-year raise, subsequent annual raises of 5%, and four total years, including the current season).
The deal will also come in well below Ingram’s maximum. Based on current cap projections, he would’ve been eligible to receive up to about $150MM over the next three years (or $269.1MM over five) if he had waited until free agency to sign a new contract with the Raptors. His maximum three-year extension right now would’ve been worth $136.1MM.
The exact impact of Ingram’s extension on Toronto’s cap situation for 2025/26 and beyond won’t be known until we see the official numbers, but it figures to push the team up over $175MM in guaranteed money for 10 players for next season. That will be well over the projected cap ($154.6MM), but will put the team in position to stay below the projected tax line ($187.9MM).
Ingram, who is still recovering from an ankle injury and whose Raptors debut is likely still a little ways off, is now part of a core in Toronto that also includes Scottie Barnes, Immanuel Quickley, Gradey Dick, and RJ Barrett.