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The Toronto Raptors aren't giving up on Malachi Flynn quite yet.

The organization has reportedly picked up the third-year guard's $3.9 million fourth-year option, per ESPN's Adrian Wojnarowski. Toronto will therefore have Flynn under contract through 2023-24 before he hits restricted free agency following that season.

It's a decision to double down on player development and take a relatively inexpensive chance on a young player who has had an up-and-down start to his career. Flynn has periodically shown flashes of being a valuable player, first in 2020-21 while the team played in Tampa and more recently during the second half of last year when he took over for an ailing Fred VanVleet.

The problem so far for Flynn has been his lack of three-point shooting and defensive tenacity. He's shot just 32.6% from behind the arc through two seasons and his on-ball defense hasn't been exactly what the Raptors had hoped for when they made him the No. 29 pick in the 2020 NBA Draft.

A big summer including some impressive pro-am game performances during the offseason has created some hope that Flynn can turn things around in what could be a make-or-break season for the 6-foot-1 point guard. If he can hit the floor with more confidence this season, make his shots, and play with more aggressiveness this year, there's still time to prove he's worthy of an NBA rotation spot.

Further Reading

Scottie Barnes wants All-Defense honors this season: Can he do it?

Raptors provide injury update including new knee injury for Khem Birch

Why continuity will pay dividends for Raptors early on this season