Last night on Twitter, Michael Grange of Sportsnet confirmed that Toronto Raptors guard Fred VanVleet has turned down a four-year, $114 million contract extension.
VanVleet, who has been with the Raptors since 2016, has developed into one of the team’s most important players. Last season, he averaged career highs in points (18.8), assists (6.2), and rebounds (4.1) per game. VanVleet was also a key contributor to the Raptors’ championship run in 2019 when he was named the NBA Finals’ Most Improved Player.
Despite his strong performance on the court, VanVleet has reportedly decided to turn down the Raptors’ offer and test the free agency market. This is a risky move, as VanVleet will be an unrestricted free agent and could potentially receive even larger offers from other teams.
Josh Lewenberg was the first one to report this, according to him, “Prior to the start of the season, VanVleet turned down a contract extension valued at roughly $114 million, the maximum Toronto could offer at the time, according to a source. He’s eligible to sign an extension up to that value until the end of the campaign, but considering he can make more in free agency and he literally wears the mantra ‘Bet on Yourself’ across his chest, it’s not a surprise that he would prefer to let his current deal expire before negotiating a new one.”
How The Raptors are dealing with the situation?
The Raptors will now have to decide whether to try and re-sign VanVleet or move on to other options. Losing VanVleet would be a significant blow to the team, as he has become a leader on and off the court. However, the Raptors may decide that they cannot match any offers that VanVleet may receive on the open market.
This is a significant development for the Raptors and the NBA as a whole. VanVleet is now widely regarded as one of the top free agents available this off-season, and his decision to test the market will have ripple effects throughout the league. It will be interesting to see where VanVleet ends up and how his departure (or potential return) affects the Raptors.
