First Kyle Lowry, now Patrick Patterson; it's been a busy few days for Masai Ujiri.
ESPN's Jeff Goodman tweeted this, about an hour ago:
Patrick Patterson has signed a 3-year, $18 million deal with the Toronto Raptors, source told ESPN.— Jeff Goodman (@GoodmanESPN) July 4, 2014
Of the three restricted free-agents left to sign, Patterson was the most important for the Raptors to lock-up. Per 36 minutes last season (in a Raps uniform) he averaged 14 points and 7 rebounds per game, and shot 41% from three-point range. With Jonas Valanciunas still developing his game, and Amir Johnson's health a constant concern, Patterson was a valuable piece in the rotation. The former Kentucky Wildcat has shown that he can pass, rebound, and most importantly, stretch the floor.
Six million a year might be a tad more than the Raptors would've hoped to lock Patterson up for, but there was interest around the league for Patterson's services -- reportedly from the Orlando Magic, in particular. And considering that the Raptors aren't blessed with players who can shoot from downtown (DeRozan is a non-factor and Ross is still inconsistent) Patterson's skill-set is definitely needed on this roster.
Think of Patterson as a cheaper, more athletic, better shooting, harder working version of Andre Bargnani.
With the Patterson deal done (agreed to in principle, that is) the Raps are about $7-8 million under the luxury tax threshold -- not ideal. According to the Toronto Sun's Ryan Wolstat, a deal for Greivis Vasquez is imminent. Vasquez will be likely looking for around 3-years, $15 million; but that said, the current market for guards (see the deals that Jodie Meeks, Ben Gordon and Darren Collison just got) is insane.