The Raptors exercised the $2.3 million team option on Shead on Thursday for the 2026-27 season, per Michael Scotto of USA Today.
Shead is all set to reprise his role as the primary backup point guard behind Immanuel Quickley (hamstring), though Ja'Kobe Walter is also in the mix to compete for reserve minutes. Last regular season, Shead averaged 6.6 points, 5.4 assists and 1.7 rebounds in 22.6 minutes per tilt across 82 games (12 starts).