A day later, Bryan Colangelo wasn't having any sober second thought about the contract extension he doled out to DeMar DeRozan.

Speaking to the media after Thursday's Raptors practice, Colangelo seemed indifferent to the criticism lobbed his way in the aftermath of the surprising pre-emptive strike.

DeRozan signed a four-year, $38-million U.S. extension prior to Wednesday's loss to Indiana and would have become a restricted free agent next summer if the deal was not completed by midnight that evening.

With league-wide contract numbers inching ever higher and with upwards of 10 teams set to be armed with cap space next summer, Colangelo said he did not want to risk bidding on his fourth-year guard on the open market.

"I'm charged with making this team better and getting assets and retaining assets. We've successfully retained an asset now … You've got to keep this thing rolling in a pattern of acquiring pieces that you think are pieces of a puzzle," Colangelo explained.

While the contract numbers came across as a shock when revealed Wednesday, Colangelo maintains that DeRozan's value only would have gone up based on the market, particularly if he shows the improvement the team expects this season.

"Clearly the downside of free agency and the unknown of free agency, despite it being restricted free agency, is that his value would have gone up even further. With all of the due-diligence that we did and with all of the information that I'm privy to, we feel that this is at or near where he would have been next year. The only downside of waiting would have been that someone (else) would have come in," he said.

"There are roughly 10 teams, let's say, that will have significant cap space, and would have been potential suitors for a dynamic wing player like DeMar DeRozan. By taking care of this now, we secured him at a number that we feel is the right value. Based on due diligence, based on where we see DeMar today and where we see him in the future, we feel like the value of the deal is an appropriate one and we acted on it."