Kyle Lowry announced on Instagram on Thursday that he has agreed to remain with the Philadelphia 76ers.
The deal is for one year, Lowry's agent, Mark Bartelstein of Priority Sports, told ESPN's Adrian Wojnarowski.
Discussions between Bartelstein and 76ers president Daryl Morey intensified last week as Lowry was considering multiple options, sources told Wojnarowski. They reached an agreement on Thursday that would see Lowry return to his hometown team and bolster a championship-chasing veteran roster that includes Joel Embiid, Tyrese Maxey and Paul George.
Lowry, 38, joined Philadelphia this spring after being bought out by the Charlotte Hornets, who acquired Terry Rozier in a trade with the Miami Heat.
He appeared in 23 games for the 76ers during the regular season, averaging 8.0 points and 4.6 assists, and was a key part of Philadelphia's rotation both late in the season and in their six-game first-round loss to the New York Knicks.
Lowry, a six-time All-Star, has played for the Heat for the past two-plus seasons, signing as a free agent in 2021 after a successful stint with the Toronto Raptors, where he won an NBA title in 2019.
Lowry returns to a revamped 76ers roster that hasn't reached the Eastern Conference finals since 2001. The team spent more than $400 million to acquire George from the L.A. Clippers and keep homegrown All-Star guard Maxey for another five years. Team president Daryl Morey signed free agents Caleb Martin, Andre Drummond and Eric Gordon and re-signed Kelly Oubre Jr.
ESPN's Tim Bontemps and The Associated Press contributed to this report.
