Free agent Kyle Lowry agreed to a four-year deal with the Toronto Raptors, ending all speculations about his future in Toronto.

Multiple reports confirmed that Lowry will sign a $48-million contract when the NBA moratorium for signings and trades ends on July 10 -- a development that was also confirmed by Lowry through his Twitter account.

Lowry emerged as one of the top free agents this summer after having a breakout season for the Raptors.

The 28-year-old point guard averaged a career-highs 17.9 points to go along with 7.4 assists and 4.7 rebounds, leading the Raptors to an unprecedented playoff stint.

The Raptors actually mulled trading Lowry before last season's trade deadline, fearing that he might bolt out via free agency this summer, but the nine-year veteran eventually decided to stay put despite receiving offers from the Houston Rockets and the Los Angeles Lakers.

Meanwhile, point guard Darren Collison also agreed to a three-year, $16 million deal with the Sacramento Kings, ESPN reported on Thursday.

Collison averaged 11.4 points and 3.7 assists for the Los Angeles Clippers, but played the majority of their games as backup to Chris Paul.

Clippers coach and president of basketball operations Doc Rivers recently said that re-signing Collison will be one of their top priorities this offseason.

However, the Kings tendered an offer the Clippers were not willing to match. Sources also indicated that Collison decided to sign with the Kings, knowing that he could be the team's starting point guard should Isaiah Thomas decide to sign elsewhere.

With Collison signing with the Kings, the Clippers will reportedly try to sign veteran point guard Jordan Farmar.

In other free agency news, Thabo Sefolosha will sign a three-year contract worth $12 million with the Atlanta Hawks next week, ESPN reported.

Sefolosha, who is expected to become one of the Hawks' main defenders next season, averaged 6.3 points to go along with 3.6 rebounds in 61 games as started for the Oklahoma City Thunder last season.

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