Veteran guard Kyle Lowry signs one-year contract to return to Philadelphia 76ers

Kyle Lowry will stay in Philadelphia after signing a one-year contract with the Philadelphia 76ers, according to multiple reports. The 38-year-old guard confirmed he was staying in his hometown with a video posted on Instagram.

Talks to keep Lowry in Philadelphia escalated last week as Lowry considered other possibilities, according to ESPN’s Adrian Wojnarowski. Lowry’s team and 76ers owner Daryl Morey reached a deal Thursday to keep Lowry’s veteran presence on the team for another season. The value of the deal was not disclosed.

The veteran guard has averaged 8.1 points, 3.2 rebounds and 4.2 assists in 23 games with Philadelphia since joining the team in February. Lowry has started 20 games this season, playing an average of just over 28 minutes per game.

Lowry will now spend the next year chasing a championship alongside Joel Embiid, Tyrese Maxey and recent signee Paul George, who signed a $212 million max contract with Philly last week.

Lowry was acquired by the 76ers after two and a half seasons with the Miami Heat. Prior to his time in Miami, Lowry spent nine seasons with the Toronto Raptors, where he won an NBA championship in 2019. The guard is a six-time All-Star, earning the honor for six consecutive seasons from 2015 to 2020.

Lowry also still holds four franchise records in Toronto and is the Raptors’ all-time leader in assists, triple-doubles, steals and three-pointers.