Raptors, Fred VanVleet agree to four-year, $85M deal

Sportsnet Staff @SportsnetNovember 21, 2020 - 2:06pm

Toronto Raptors guard Fred VanVleet (23) celebrates his three point basket against the New Orleans Pelicans during NBA overtime action. (Frank Gunn/CP)

The Toronto Raptors are keeping Fred VanVleet in their backcourt, agreeing to a four-year deal with the guard worth $85 million, Sportsnet’s Michael Grange can confirm.

The agreement, initially reported by Shams Charania of The Athletic, includes a player option in the fourth year. The contract starts at $21.25 million next season, decreases by eight per cent in 2021-22, then ramps up again, per Grange. This structure helps the Raptors preserve some cap space heading into the loaded 2021 off-season.

I'm told VanVleet's 4yr/$85 deal (player option in yr 4) starts at $21.25 and then decreases by 8% in yr 2 (2021/22) before ramping up again. The drop going into summer of 2021 helps preserve Raptors cap space.

— Michael Grange (@michaelgrange) November 21, 2020

Grange previously reported that VanVleet would meet with the Raptors and one or two other suitors on Saturday in Chicago, near his hometown of Rockford, Ill.

Toronto president Masai Ujiri, just coming out of @FredVanVleet meeting, and just before going into another meeting, on the new deal: "He always wanted to come back. We love Fred; he loves us. When free agency comes, other teams go after good players. We all do the same thing."

— David Aldridge (@davidaldridgedc) November 21, 2020

Recently, Raptors general manager Bobby Webster described re-signing VanVleet as the team’s “top priority” of the off-season.

VanVleet, who initially signed with the Raptors in July of 2016 after going undrafted that year, spent much of his first pro season — and a bit of his second — with the G League’s Raptors 905.

During the 2019-20 season, he posted career-best averages in points (17.6), assists (6.6) and rebounds (3.8) as an every-game starter for the first time.

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