Toronto Raptors: Playing buy or sell with 2017 free agents

Apr 18, 2017; Toronto, Ontario, CAN; Toronto Raptors guard Kyle Lowry (7) talks with forward Serge Ibaka (9) after beating Milwaukee Bucks 106-100 in game two of the first round of the 2017 NBA Playoffs at Air Canada Centre. Mandatory Credit: Dan Hamilton-USA TODAY Sports
Apr 18, 2017; Toronto, Ontario, CAN; Toronto Raptors guard Kyle Lowry (7) talks with forward Serge Ibaka (9) after beating Milwaukee Bucks 106-100 in game two of the first round of the 2017 NBA Playoffs at Air Canada Centre. Mandatory Credit: Dan Hamilton-USA TODAY Sports /
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Apr 18, 2017; Toronto, Ontario, CAN; Toronto Raptors guard Kyle Lowry (7) talks with forward Serge Ibaka (9) after beating Milwaukee Bucks 106-100 in game two of the first round of the 2017 NBA Playoffs at Air Canada Centre. Mandatory Credit: Dan Hamilton-USA TODAY Sports
Apr 18, 2017; Toronto, Ontario, CAN; Toronto Raptors guard Kyle Lowry (7) talks with forward Serge Ibaka (9) after beating Milwaukee Bucks 106-100 in game two of the first round of the 2017 NBA Playoffs at Air Canada Centre. Mandatory Credit: Dan Hamilton-USA TODAY Sports /

Which free agents should the Toronto Raptors bring back and which should they let walk?

The Toronto Raptors had what looked to be another trip to the Eastern Conference Finals within reach.

DeMar DeRozan and Kyle Lowry were one of the NBA’s premier backcourts, as they both averaged career highs in points and rebounds. The Raptors were able to complete a great trade, sending Terrence Ross to Orlando for defensive specialist Serge Ibaka.

Toronto appeared to be gaining momentum, and then it ran into LeBron James and the Cleveland Cavaliers. Kyle Lowry injured his ankle and the Raptors were swept by Cleveland in the second round of the playoffs. Everything unraveled, and Toronto is right back to square one.

The Raptors don’t have a lot of cap space

The NBA salary cap is set at $99 million, and the Raptors already have $79.5 million under contract for next season. The Raptors have about $20 million of cap space before they go over the threshold, and this doesn’t even include Toronto’s free agents or the newly drafted OG Anunoby.

Here is a list of Toronto’s free agents and their associated cap holds:

If the Raptors were to bring back all of their free agents from last season, their salary would swell to $139 million. The luxury tax threshold is set at $119 million. We also have to factor in that Lowry is eligible for a five-year, $200 million-plus contract. If he makes $35 million in his first year of that contract, it would put Toronto at nearly $30 million over the luxury tax threshold.

According to ESPN‘s Zach Lowe, Toronto would have to pay an eye-watering $250 million in 2017-18 in total if they were to re-sign everyone — a hefty sum for a team that can’t be taken seriously as a title contender.

Since the Toronto Raptors are highly unlikely to re-sign all of their free agents, they will have to decide on who to keep and who to let go. Let’s get started.