Fred VanVleet leaving Raptors on three-year, US$130M deal with Rockets: reports

Fred VanVleet is leaving the Toronto Raptors and signing a three-year, US$130-million contract with the Houston Rockets, according to multiple reports.

VanVleet has spent his entire seven-year career with the Raptors after going undrafted in 2016.

It’s the largest contract for an undrafted player in NBA history.

VanVleet was part of the Raptors team that won a championship in 2019 and was named an all-star in 2022.

The 29-year-old point guard opted out of his $22.8-million player option two weeks ago. The option year was slated to be the last of a four-year, $85-million contract he signed in 2020.

Last season, VanVleet averaged 19.3 points and a career-best 7.2 assists across 69 regular-season games. Toronto finished with a 41-41 record and missed the post-season after a play-in loss to the Chicago Bulls.

The Raptors moved quickly to replace VanVleet, reportedly signing 29-year-old point guard Dennis Schroder to a two-year contract worth $26 million.

This report by The Canadian Press was first published June 30, 2023.