The Toronto Raptors will re-sign forward Serge Ibaka to a three-year contract worth $65 million according to ESPN's Adrian Wojnarowski.

The move comes on the heels of forward P.J. Tucker's departure to the Houston Rockets on a four-year, $32 million deal.

Ibaka was a key part of the Toronto Raptors' defence last season since they acquired him in a Feb. 14 trade with the Orlando Magic for forward Terrence Ross and a first-round pick. Since trading for Ibaka, Toronto finished the regular season 18-7.

Ibaka averaged 14.8 points per game and 6.8 rebounds last season. He was also a force to be reckoned with from distance, shooting .398 from three.

Ibaka hit the market as an unrestricted free agent after signing a four-year, $49.4 million contract extension when he was a member of the Oklahoma City Thunder. He was drafted No. 24 overall by the Thunder in 2008.