VanVleet to leave the Raptors on monster $130 million contract: report
Fred VanVleet will be leaving the Toronto Raptors.
On Friday, it was reported by ESPN’s Adrian Wojnarowski that the veteran point guard had signed with the Houston Rockets to a massive deal worth $130 million over three seasons.
Free agent G Fred VanVleet has agreed on a three-year, $130 million contract with the Houston Rockets, @KlutchSports CEO Rich Paul and agent Erika Ruiz tell ESPN. Rockets land ex-Raptors All-Star in his prime at 29 years old. pic.twitter.com/B6WwPmLYq1
— Adrian Wojnarowski (@wojespn) July 1, 2023
VanVleet had opted out of the final year of his four-year, $80 million deal originally signed with Toronto in 2020, choosing ultimately to leave with the only NBA franchise he’s ever known.
From a pure basketball standpoint, it’s a tough move for Toronto, who find themselves without much point guard depth on their roster had VanVleet departed for another offer.
An undrafted free agent out of Wichita State, VanVleet was a key piece of the NBA championship team for Toronto back in 2019, before transitioning into a starter over the last three seasons, taking over point guard duties following the departure of Kyle Lowry in the summer of 2021.
VanVleet averaged 19.3 points, 7.2 assists, and 4.1 rebounds in 69 games this past season, shooting 39.3% from the field and 34.2% from three-point range. He was named to the All-Star team for the first time in his career in 2021-22, though he could not repeat that honour in 2022-23.
VanVleet had lured the Raptors and Houston Rockets to California in order to bid for his services, per multiple reports.
“The current plan entering NBA free agency Friday at 6 PM ET is for Fred VanVleet to hold in-person meetings in Los Angeles with officials from the Rockets and Raptors, according to a source familiar with the schedule,” NBA insider Marc Stein tweeted late Thursday night.
While Houston had reportedly offered a $40-million deal over two seasons to VanVleet, he opted for the longer deal in order to stay with Toronto.
The news comes on the heels of Toronto re-signing centre Jakob Poeltl to a four-year deal worth $80 million.
With Gary Trent Jr. and Otto Porter Jr. also opting into their deals earlier this summer, the team has now retained all eight of their top nine players last season in terms of minutes per game, with VanVleet the lone departure.