Fred VanVleet's Next Contract is Expected to Surpass $90 Million in Free Agency

Toronto Raptors guard Fred VanVleet is heading for a contract that could top $30 million per season in free agency this summer

All Raptors Staff | Jun 17, 2023

Dan Hamilton-USA TODAY Sports

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Toronto Raptors

Fred VanVleet is heading for a massive payday this summer.

The Toronto Raptors guard opted out of his $22.8 million player option for next season and is reportedly expected to sign a contract worth upward of $90 million over three seasons, according to Yahoo’s Jake Fischer. A deal of that size could pay the 29-year-old over $30 million per season on his next deal.

VanVleet had been eligible for a four-year, $114 million extension this past year, but he and the Raptors mutually agreed not to ink the contract, VanVleet said. That contract would have paid $28.5 million per season.

Instead, VanVleet and his new representation at Klutch Sports will head to the open market this summer where he’s considered among the most coveted free agents available. The Orlando Magic, Houston Rockets, Phoenix Suns, and Los Angeles Lakers have all been mentioned as teams potentially targeting VanVleet. Toronto maintains interest in VanVleet and is hopeful he’ll be back next season, Raptors general manager Bobby Webster said.

It's unclear if VanVleet is looking for a three- or four-year deal and the length of the contract will impact how much he makes annually. Considering his age, it’s likely teams would prefer to sign him to a three-year deal with a higher annual salary.

With the salary cap set for about $134 million next season, $30 million is about 22% of the salary cap. For comparison, VanVleet’s last contract had him making $21.6 million in his first year, approximately 19% of the salary cap.

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