The Toronto Raptors and point guard Fred VanVleet are set to discuss a contract extension this summer, according to a recent report.
League sources told HoopsHype’s Michael Scotto that the Raptors will be talking to VanVleet, which he’ll become eligible for as of July 8. VanVleet currently is halfway through a four-year contract worth $85 million, with a player option for the 2022-23 season.
“VanVleet will become extension-eligible this offseason for up to three years, almost $89 million,” Scotto said on the July 13 episode of the HoopsHype podcast. “He could also decline his player option for the 2023-24 season and extend for up to four years, $114.2 million.”
It’s not really surprising news, as the 28-year-old VanVleet is coming off his first NBA All-Star appearance and finished first or second on the team (behind Pascal Siakam) in terms of minutes played, assists, points, and steals this past season. He averaged 20.3 points, 6.7 assists, and 4.4 rebounds in 65 games.
It’d be more surprising if they weren’t chatting to VanVleet about an extension, as he’s taken on the de facto leadership role on the team following the departure of Kyle Lowry.
“There’s no question VanVleet is worth the full extension amount he’s eligible to be paid,” Scotto added.
A hip flexor strain and right knee soreness limited VanVleet’s playoff effectiveness as he sat the team’s final two games in their first-round loss against Philadelphia.
VanVleet has spent his entire NBA career with the Raptors, originally signing with the team as an undrafted free agent out of Wichita State.
A starter on the team each of the last three seasons, VanVleet is one of four remaining members of the 2019 championship roster, along with Siakam, OG Anunoby, and pending free agent Chris Boucher.