The team held the option to extend DeRozan for a third year at the rookie pay scale.
DeRozan’s deal is now guaranteed through the 2011-12 season. The Raptors had until Oct. 31 to exercise the option.
DeRozan averaged 8.6 points and 2.9 rebounds in 77 games last season. The 6-foot-7, 220-pounder was selected by the Raptors with the ninth overall pick of the 2009 NBA Draft.
