The Toronto Raptors announced Thursday they have exercised the third-year team options on the Rookie Scale Contracts of centre Jonas Valanciunas and guard Terrence Ross. The contracts for Valanciunas and Ross are now guaranteed through the 2014-15 season. In accordance with the league's Collective Bargaining Agreement, the Raptors had until October 31 to exercise their option on both players.
Valanciunas, who won MVP honors at July's NBA Summer League in Las Vegas, will make more than $3.6 million next season. The option for Ross, the 2013 slam dunk contest winner, is more than $2.7 million, per ShamSports.
Both players are headed into their sophomore seasons. While Valanciunas is entrenched as a starter and a huge part of the future of the team, Ross is looking to prove to new general manager Masai Ujiri that he can be a part of Toronto's core going forward.
Valanciunas averaged 8.9 points, 6.0 rebounds and 1.3 blocks in 24 minutes per game and shot 55.7 percent from the field as a rookie. In Ross' first year, he averaged 6.4 points and 2.0 rebounds, shooting 40.7 percent from the field and 33.2 percent from behind the line in 17 minutes per game.