All-Star point guard Kyle Lowry is reportedly planning to opt out of his contract next summer, however, he still wants to stay with the Toronto Raptors for the long term.

The 30-year-old floor general is entering the third year of his four-year, $48 million deal with the Raptors and is allowed to exercise its Early Termination Option to become an unrestricted free agent at the end of the 2016-2017 season.

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Once Lowry exercises the option, he will join other elite point guards in free-agency next summer, such as reigning MVP Stephen Curry of the Golden State Warriors and Chris Paul of the Los Angeles Clippers.

With recent NBA contracts going up to the roof because of the league's new TV deal, Lowry is said to be expecting to have a major salary increase, but he does not want to switch teams in doing so.

The Raptors have recently given shooting DeMar DeRozan a lucrative five-year, $139 million contract extension while also granting pay raises to team president Masai Ujiri and head coach Dwane Casey. It seems like it is but natural that Lowry is next in line.

Yahoo Sports indicated that Lowry "loves the life" in Toronto being one of the core players plus all the endorsement opportunities that he has in the city. He is also reportedly dreaming of one day raising up his no. 7 jersey into the rafters of the Air Canada Centre after establishing a winning legacy with the Raptors.

"If you're that franchise's guy, and you're the guy that they've been rolling with, and you've given that franchise everything you have, yeah, I think (the talks) should be easy," said the two-time All-Star. "I think it should be a situation where a guy shouldn't have to talk to another team. DeMar didn't have the chance to talk to another team."

Ujiri is one with Lowry in saying that a contract extension negotiation will not be difficult between the player and the team as both sides know each other's values.

"Kyle has been at the forefront of the Raptor movement," said Ujiri, via ESPN. "How he goes, we go. He has helped establish a culture that will grow even more. We really appreciate that. He is a winner, and we want to win."

TagsNBA rumors, NBA Rumors 2016, kyle lowry, Toronto Raptors, Toronto Raptors rumors