What happened: General Manager Bobby Webster announced that the Toronto Raptors will retire Kyle Lowry's No. 7 jersey next season. The decision officially honors the point guard following his recent retirement statements.

Why it matters: Lowry served as the emotional leader and primary playmaker during the most successful stretch in Raising his number to the rafters permanently solidifies his status among the organization's all-time greats.

What to watch: The franchise will finalize a specific date for the ceremony once the upcoming NBA schedule is released. The event will likely feature appearances from key figures of the championship roster.