Report: VanVleet agrees to three-year, $130M deal with Rockets
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The Toronto Raptors are entering a new era, bidding farewell to stalwart point guard Fred VanVleet, re-signing centre Jakob Poeltl and welcoming German guard Dennis Schroder.
VanVleet is leaving the Raptors after seven seasons and signing a three-year, US$130-million contract with the Houston Rockets, according to multiple reports on Friday.
After going undrafted in 2016 out of Wichita State, VanVleet signed an NBA Summer League contract with the Raptors and steadily rose through the club's ranks to become an embodiment of Toronto's successful player development.
The Rockford, Ill., product went from G League champion to NBA champion and all-star.
VanVleet played an important role in the Raptors' 2019 championship run, scoring 22 points in the title-clinching Game 6 against the Golden State Warriors, 12 of which came in the fourth quarter.
In 2021-22, he filled the point-guard void left by franchise icon Kyle Lowry and earned all-star honours with a career-high 20.3 points.
Now the 29-year-old is reportedly signing the largest contract for an undrafted player in NBA history.
VanVleet, who was heavily involved in trade rumours at last season's trade deadline, opted out of his $22.8-million player option two weeks ago.
Last season, VanVleet averaged 19.3 points and a career-best 7.2 assists as Toronto finished with a 41-41 record and missed the post-season after a play-in loss to the Chicago Bulls.
He joins a Rockets team that hasn't topped 22 wins in the last three seasons, but that's brimming with young talents in guard Jalen Green, forward Jabari Smith Jr. and centre Alperen Sengun.
The Raptors moved quickly to replace VanVleet by reportedly signing Schroder to a two-year contract worth $26 million.
Schroder averaged 12.6 points and 4.5 assists for the Lakers, shooting 32.9 per cent from three-point range.
The 29-year-old arrives in Toronto after stints in Atlanta, Oklahoma City, Los Angeles, Boston and Houston.
Despite losing VanVleet, the Raptors managed to retain one of its free agents.
Poeltl reportedly signed a four-year, $80-million deal with a player option for the final season.
The 27-year-old averaged 13.1 points, 9.1 rebounds and 1.3 blocks in his 26 games with Toronto last season.
The Raptors acquired Poeltl from the San Antonio Spurs at last season's trade deadline, sending Khem Birch, a protected 2024 first-round pick and two future seconds the other way.
The trade was a homecoming of sorts for Poeltl, whom Toronto drafted ninth overall in 2016 but traded to San Antonio along with DeMar DeRozan to acquire Kawhi Leonard in 2018.
This report by The Canadian Press was first published June 30, 2023.