Report: Raptors, Cory Joseph agree to 4-year, $30M deal

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The only surprise here is the speed at which it developed.

The Toronto Raptors and point guard Cory Joseph - a sudden unrestricted free agent Sunday after the San Antonio Spurs withdrew their qualifying offer - have agreed to a four-year, $30-million deal, according to ESPN's Brian Windhorst.

The deal includes a player option in its fourth year.

It's a steep price, but given where the salary cap will be in two years, Joseph, a capable reserve guard who has improved statistically in each of his four NBA seasons, fits a need for the Raptors. In the wake of the Greivis Vasquez trade, Joseph projects as a battle-tested backup for starting point Kyle Lowry.

Joseph also happens to be a Toronto-area native, and he will become only the second Canuck to suit up for Canada's lone NBA team. The first was Jamaal Magloire in 2011-12. General manager Masai Ujiri has said the team would like to eventually take advantage of the recent explosion of Canadian basketball talent, and Joseph is a good start.

The 6-foot-3 guard averaged 6.8 points on 50.4 percent shooting this past season. With Joseph's departure, the Spurs have lost three role players from the last few seasons while adding LaMarcus Aldridge.