Lowry will opt out of his $12 million player option for the 2017-18 season this summer, but hopes to re-sign with the Raptors, Ananth Pandian of CBS Sports reports.

EDGE Analysis

Lowry signed a four-year, $48 million contract with the Raptors prior to the 2014-15 season, which was well before the league's salary cap started to rise significantly. He should have the opportunity to see a vast increase in his salary by opting out, making the move very unsurprising on Lowry's part. With that said, Lowry hopes to remain in Toronto, where he's spent the last four seasons and has established himself as a franchise player. He's coming of a 2015-16 campaign where he was granted an invite to the NBA All-Star game, so the Raptors would be wise to do everything they can do bring him back.