The news comes just hours before free agents can officially sign a contract with a team. Earlier in the week, it had been reported that Vasquez and Suns restricted free agent point guard Eric Bledsoe had been targeted by the Bucks.
Vasquez, 27, averaged 9.5 points and 3.5 assists in 61 games last season for Toronto. He will once again back up point guard Kyle Lowry, who recently agreed to terms with Toronto on a four-year, $48 million contract.
- Marc Weinreich
Greivis Vasquez will sign a two-year, $13 million deal to stay with Toronto, league sources tell Yahoo Sports. — Adrian Wojnarowski (@WojYahooNBA) July 10, 2014