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Raptors point guard Kyle Lowry looks on during a news conference in Toronto on Friday, July 7, 2017.Frank Gunn/The Canadian Press

The Toronto Raptors have officially re-signed point guard Kyle Lowry and forward/centre Serge Ibaka.

Deals for both players were reported last week but couldn't be officially signed before Friday.

"I'm back here for a reason," Lowry said a press conference Friday. "They believe in me and I believe in them. That makes it easy."

"At the end of the day I want to help this organization get better, I want to help the younger guys get better. I'm going to take this city to new heights. I'm going to take this country to new heights."

Lowry's deal is for US$100-million over three years, a source told The Associated Press last week.

The three-time all-star averaged 22.4 points and 7.0 assists last season for the Raptors.

Ibaka's contract is reportedly worth US$65-million over three seasons.

The Raptors acquired the six-foot-10 Ibaka in the deal that sent Terrence Ross to Orlando at the trade deadline.

The Toronto Raptors’ president says free agent Kyle Lowry has told him he wants to return to the team next season. Masai Ujiri refuted a media report Tuesday that claimed Lowry had 'zero interest' in staying in Toronto.

The Canadian Press

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