The Toronto Raptors have decided not to trade Kyle Lowry after all.
The Raptors were in talks with the Philadelphia 76ers, Miami Heat and Los Angeles Lakers right until the final minutes of the trade deadline, but Raptors president Masai Ujiri passed on all offers. The Sixers added veteran guard George Hill, while the Heat nabbed former All-Star guard Victor Oladipo.
The simplest explanation would be that the Raptors did not favor any of the trade packages on the table. The Heat were reluctant to include Tyler Herro and instead tried to dangle soon-to-be free agent Duncan Robinson. The Sixers were hesitant to part ways with Matisse Thybulle and settled for a cheaper move with Hill. The Lakers joined the chase last minute as they are in a dire situation with both LeBron James and Anthony Davis dealing with injuries, but it's unclear if they were willing to part with Talen Horton-Tucker.
Another factor is that Lowry might have a better market in the offseason. The Raptors can still sign-and-trade Lowry to a contender of his choosing, especially if the team that lands Lowry is short on cap space. They could also just simply retain Lowry, who is still giving close to All-Star level production into his mid-30s.
Toronto did pull off three trades before the deadline, swapping out Norman Powell to Portland for Gary Trent Jr., while also flipping Terence Davis and Matt Thomas for second-round picks. This does create open roster spots for the Raptors to potentially be a player on the buyout market, although it's unclear as to the direction of the team and what their intentions are for the remainder of the season.
The Raptors are 1.5 games back of the last play-in spot, and four games back of eighth in the East. A nine-game losing streak dropped them out of the playoff picture and into becoming sellers at the deadline, but they have instead opted to hold.
More from Yahoo Sports