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Why haven’t Raptors extended Gary Trent Jr. beyond 2023?

Before the Toronto Raptors signed Jakob Poeltl and Dennis Schroder in the early stages of free agency, they were given a major shot in the arm when prospective free agent Gary Trent Jr. decided to eschew the open market and pick up his player option for the 2023-24 season.

Trent opted into the final year of his contract by picking up his player option in a move that was fairly unexpected. Trent could have earned a huge multi-year deal in excess of $20 million per season on the open market, but he chose to play out the final year of his contract.