Toronto Raptors

Report: Pascal Siakam and the Toronto Raptors have had 'preliminary talks' about contract extension

Will Pascal Siakam sign an extension before the season begins?

According to TSN's Josh Lewenberg, the Toronto Raptors have "engaged in preliminary talks with Siakam's representatives" about a contract extension. There is, however, "no indication that a deal is imminent," Lewenberg added.

I broke down the various options the Raptors face when it comes to Siakam's extension on Thursday, which you can read by clicking here.

The skinny is that getting it done before the deadline on Oct. 21 avoids the risk of Siakam feeling disrespected and signing a contract with another team next offseason as a restricted free agent. The Raptors would still have the option of matching whatever he's offered - minimizing the risk of letting that Oct. 21 deadline pass - but it would pave the way for him to become an unrestricted free agent sooner than he would if he signed a four or five-year extension with the Raptors.

As we saw with Gordon Hayward and the Utah Jazz a few years ago, that could come back to haunt them.

MORE: Biggest storylines for the Raptors this season

That, however, assumes Siakam and the Raptors are on the same page about what his extension should look like. Lewenberg noted that Siakam's camp is likely looking for an extension that is close to the max. Before committing that amount of money to him, the Raptors might prefer to see if he's capable of being the No. 1 option on a winning team now that Kawhi Leonard is no longer in Toronto.

Additionally, because he was a late first-round pick in the 2016 NBA Draft, Siakam has a tiny cap hold for next summer. So by delaying his extension, they would have the cap space to offer not one, but two max contracts next offseason.

Because of the very different ways the Raptors benefit from offering Siakam an extension this offseason compared to next offseason, there's no guarantee that the two sides reach an agreement in the coming weeks.

But at the very least, the process appears to have begun.

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