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TSN Raptors Reporter

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TORONTO - In the days leading up to the deadline, both parties were hopeful they could get something done, though neither seemed especially certain.

"I mean, it would be an honour to get an extension," Terrence Ross had told TSN.ca on Saturday. "If that doesn't happen, then we'll take it from there."

Ross was cautiously optimistic and while the Raptors appeared open to investing in the 24-year-old, an agreement was far from imminent. With Monday's midnight deadline approaching, the final chance for teams to extend contracts of the NBA's 2012 rookie class, talks between Toronto and Ross' representatives were ongoing, ultimately dragging into the late hours of the night before the fourth-year guard broke his own news over social media.

Just barely beating the buzzer, the Raptors agreed to a long-term contract extension with Ross, one that will reportedly keep him in Toronto for roughly $33 million over three years.

"Terrence has shown growth with each season," general manager Masai Ujiri said in a team-issued press release early Tuesday mourning. "We are excited that he will be part of what we are building in Toronto. He is a great teammate and has worked hard to become one of our best shooters.

On the surface, the price seems steep. Eight figures annually for a player coming off a disappointing season, one that is prone to defensive lapses and has yet to prove himself as a consistent contributor in the NBA. However, as the league's cap gets set to skyrocket next summer - and player salaries along with it - this should be considered a business decision as much as an endorsement.

With the cap projected to jump from $70-million this season to $90-million next year, Ross' salary will account for approximately 12 per cent of Toronto's payroll, and presumably even less than that in the future, as the cap continues to rise.

The market has changed and these contracts signed over the last 12 months - let alone the ones we'll see over the summer - reflect that. Utah Jazz guard Alec Burks, a fifth-year player with similar career numbers to Ross, inked a four-year, $42 million deal at this time last season. Jeremy Lamb, who was drafted 12th overall in 2012, four picks after Ross, signed a three-year, $21 million extension earlier on Monday - Ross has played more than twice as many minutes in the NBA.

By locking him up, the Raptors avoid letting Ross hit restricted free agency in the off-season. Although they would have retained the rights to match any offer, there's a conceivable possibility he would have been more expensive on the open market, especially if he were to make strides this year.

An athletically-gifted wing with the ability to knock down the corner three at a high percentage and defend two or three positions, his unique skill set is growing increasingly valuable in today's NBA. Whether the Raptors have absolute faith in him or not, they've got him under long-term control at a price that should seem more and more reasonable as time goes by.

His natural ability has never been questioned. The Raptors' biggest concern in committing long-term money to Ross was his inconsistency. It's that unpredictability, game-to-game and even possession-to-possession that has plagued him throughout his first three seasons as a pro.

He's a former dunk champion with a 51-point game on his resume. He's a 37 per cent career three-point shooter - having shot over 40 per cent from the corners in each of the last two seasons - and was considered to be Toronto's top perimeter defender before taking a (massive) step back on that end last year (his defensive rating ranked last among the Raptors' rotation players).

This is what makes him such a frustrating player to watch. One night, when those tools are on display, he'll look like a budding young star and the next, you may not notice him at all.

"Consistency, that's the key, on both ends of the floor, not just his offence, be consistent defensively," head coach Dwane Casey said. "And that's the huge question with him, can he be consistent?"

"With young players it [can be frustrating]. Guys are trying to get in their niche. It's frustrating sometimes because you see the good, you see what they can do and then you'll see some clunkers but that's part of being young, that's part of finding your niche in the league and trying to grow in the NBA, you're going to have nights like that. And Terrence, he's had less and less of the [bad nights], floating through the game and floating through situations."

Out of necessity, Ross had been miscast as a starting small forward. Now, with DeMarre Carroll now on board, he's transitioning to a more suitable full-time bench role this season. After a quiet performance in the opener, it seems like he's settling in as the team's primary scorer with the second unit.

Ross helped lead Toronto to a 10-point win over the Celtics Friday, scoring 21 on 8-of-12 shooting in 21 minutes off the bench. A couple days later, as the Raptors cruised to victory over Milwaukee, he poured in all of his 11 points in the fourth quarter. He may not be starting but he's been a closer. Through three games this season, 29 of his 37 points have come in the final frame.

"There's no pressure on him," DeMar DeRozan said. "There's no pressure on him at all. When he comes into the game, he knows what he's supposed to do on both ends. Coach gives us freedom offensively to do a lot of things as long as we play defence. Once he keeps that in his head and understands the things he can do offensively, can't do nothing but help him."

"I think he's coming in way more relaxed," Kyle Lowry's noticed. "I think he's just going out there and playing basketball, not necessarily worried about doing this or that, just going out there and having fun."

He's back at his natural position, primarily playing and, most importantly, defending guys at the two. The pressure of coexisting with the team's high volume guards, Lowry and DeRozan, has been lifted in favour of this opportunity to carve out a niche as their sixth man. Healthy after undergoing off-season surgery to remove the bone spurs in his ankle that slowed him last year, the team is confident that Ross can excel in his new role. It may have taken them a while to decide just how much, but the Raptors still believe in him.