Fred VanVleet Addresses Contract Rumors: Mutual Decision to Wait on Extension Talks

Fred VanVleet and the Toronto Raptors mutually decided to wait to discuss contract talks at a later time, VanVleet said Sunday

Aaron Rose | Jan 8, 2023

John E. Sokolowski-USA TODAY Sports

Fred VanVleet wanted to clear the air.

He'd seen rumors swirling that he'd turned down a four-year, $114 million contract extension from the Toronto Raptors and wanted to make it clear what wasn't the case.

"I will never speak on my free agency or contract negotiations, especially between conversations between me and management. So it certainly didn't come from me," VanVleet said. "But I was never made a formal offer."

VanVleet became eligible to sign a contract extension over the summer. The deal maxed out at four years, $114 million due to the NBA's Collective Bargaining Agreement that prohibits players from signing extensions more than 120% of their current contract.

"There was never a formal offer made. It was a mutual decision by both sides that the smart thing to do would be to wait it out," VanVleet continued. "There was no rush given that I can still sign the extension all the way throughout the end of the season. I also have a player option in my contract this summer. We can deal with that at the end of the season. Also [I’m] on the books for next year. So take my word for it."

VanVleet still remains eligible to sign the extension should he and the team come to an agreement on a deal. Otherwise, he has a player option for $22.8 million for next season. He could also opt out and head into free agency with no restrictions on contract negotiations.

"I'm disappointed that it's come out. I don't want it to be a distraction. And I'm not going to be speaking on any contracts or any situations regarding my contract this year," VanVleet added. "I'm completely focused on his team. My loyalty is to this team and to this franchise and trying to get us back to the level that we're accustomed to around here. "

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