Report: Fred VanVleet expected to command $30-plus million per year in free agency

Guard Fred VanVleet is expected to command $30 million or more per year in free agency this offseason, according to HoopsHype’s Michael Scotto.

“Toronto Raptors free agent guard Fred VanVleet is expected to command $30-plus million annually, according to NBA executives who spoke with HoopsHype,” Scotto wrote.

VanVleet recently opted out of his player option for the 2023-24 season, making him an unrestricted free agent.

The Raptors could still bring VanVleet back if they choose, but it looks like they’ll need to pay a hefty price to retain him.

A one-time All-Star, VanVleet has been with Toronto since the 2016-17 season and risen to NBA stardom after going undrafted out of Wichita State University.

The 29-year-old is coming off a bit of a down season, especially from an efficiency perspective.

VanVleet shot just 39.3 percent from the field and 34.2 percent from 3-point range in the 2022-23 season. That 3-point percentage was the worst of VanVleet’s career.

However, he did set a career high in assists per game (7.2) while scoring 19.3 points per game as well.

Toronto failed to make the playoffs in the 2022-23 season, so it’s possible the team looks to tweak the roster in the offseason. Moving on from VanVleet is one way that the team could not only save money, but leave room for a new floor general to take over as well.

It’s likely that VanVleet will draw interest from several teams this offseason, and it’s possible that Toronto could end up getting something for him in a sign-and-trade type of deal as well. Scotto pointed out the Houston Rockets, Los Angeles Lakers, Phoenix Suns and Orlando Magic as potential suitors for VanVleet.

“However, several other teams, including the Rockets, Lakers, Suns, and Magic, have been linked to VanVleet as potential suitors, while other playoff-caliber teams could emerge as sign-and-trade options,” Scotto wrote.

VanVleet is one of many pieces that the Raptors could consider moving, as Pascal Siakam and O.G. Anunoby are both nearing the end of their contracts. Siakam is a free agent after the 2023-24 season while Anunoby has a player option for the 2024-25 campaign.

VanVleet was an integral part of Toronto’s championship team in the 2018-19 season, but it appears his future with the team is at least up in the air this offseason.