NBA Rumors: Fred VanVleet Offered 4-Year, $114M New Raptors Contract Before Season

According to Michael Grange of Sportsnet, Fred VanVleet turned down a four-year, $114 million extension from the Raptors.

Lewenberg was writing.

The maximum Toronto could offer at the time was $114 million, but VanVleet turned it down. He's eligible to sign an extension up to that value until the end of the campaign, but since he can make more in free agency, he would prefer to let his current deal expire

Grange's name was added.

Michael Grange @michaelgrange

Can confirm that Fred VanVleet was offered a 4yr extension for $114m prior to the season. Offer wasn't 'rejected', but was a 'mutual decision to wait, with no deadline discussed' per a source. @JLew1050 first.

VanVleet has been a member of the Raptors for seven NBA seasons. He joined the Raptors' summer league team in 2016 and was a part of the team that won the NBA title.

Toronto has made the playoffs in two of the past three seasons and he has been a full-time starter for three years. VanVleet is struggling from the field this year (37.7% shooting, 34.5% from three-point range) but is still averaging 18.6 points, 6.2 assists, 4.1 rebound and 1.6 steals per game.

The Raptors are outside the play-in tournament picture with a 16-23 record. Toronto has a 3-11 record in its last fourteen games.

Although there's time for the Raptors to turn the season around, it's not clear how the team will approach the trade deadline and summer league.

If VanVleet declines his player option, he will be a free agent next year. Tyler Herro's four-year, $130 million deal is expected to be the baseline if he does that.

The Raptors have five weeks to decide if they want to keep VanVleet long-term or risk losing him in free agency.

The Raptors are trying to break their losing streak. They will try to do it at home against the Trail blazers.