What happened: After 20 professional seasons, Kyle Lowry has formalized his NBA departure. The ceremonial transaction fulfills a longstanding promise to step away from the game as a member of the Toronto Raptors.

Why it matters: The 40-year-old point guard spent nine years with the organization and became its foundational leader. He guided the roster to its only championship in 2019 and remains widely regarded as the greatest player in team history.

What to watch: The front office will retire his No. 7 jersey during the upcoming 2026-27 season. An official banner-raising ceremony date is expected to be announced later this offseason.