JULY 7: The Rockets have officially signed VanVleet, the team announced today in a press release.
As previously noted, VanVleet’s three-year deal includes a third-year team option.
JUNE 30: Fred VanVleet is leaving Toronto, according to Adrian Wojnarowski of ESPN (Twitter links), who hears from agents Rich Paul and Erika Ruiz that the free agent point guard will join the Rockets on a three-year, maximum-salary contract.
The No. 2 player on our list of 2023’s top 50 free agents, VanVleet is the first free agent to land a max deal this summer, Wojnarowski notes. The agreement will pay him a total of $128.5MM across three seasons, including a starting salary of $40.8MM in 2023/24, which will eat up a huge chunk of Houston’s cap room.
It’s a massive payday for VanVleet, who began his NBA career in 2016 as an undrafted free agent on a minimum-salary contract. Over the course of seven seasons in Toronto, he evolved from little-used reserve to key rotation member on a championship team to All-Star starting point guard.
The former Wichita State standout signed a four-year, $85MM contract during his last foray into free agency in 2020, but opted out of that deal after the third year in order to secure an even larger payday.
VanVleet is coming off a down season, having made a career-worst 34.2% of his three-point attempts in 2022/23 as his defense also took a step back. However, it appears the Rockets are willing to chalk up his struggles to nagging injuries and bad luck rather than assuming it’s the beginning of a downward trend. The 6’1″ guard has never been a great finisher around the rim, but he was a career 38.2% three-point shooter prior to last season and has been an asset on defense in the past.
The Rockets had more cap room (approximately $64MM) than any other team in the NBA entering free agency, putting them in position to aggressively pursue their preferred targets. While James Harden was mentioned earlier in the year as a candidate to return to Houston, VanVleet had clearly become the team’s top point guard target in the days leading up to free agency.
With the Raptors doing their best to bring back VanVleet, the Rockets apparently had to tack on an extra season to the two-year, maximum-salary offer they were said to be preparing for the 29-year-old in order to secure his commitment. Even with $40MM earmarked for VanVleet, Houston still has about $25MM in cap room available to continue making moves.
Meanwhile, it’s unclear how the Raptors intend to address their suddenly gaping hole at point guard. The club had spent the last year or two seeking a reliable backup for VanVleet and will now have to find a new starter too.
[UPDATE: Raptors to sign Dennis Schröder]
As Bobby Marks of ESPN tweets, Toronto could try to work out a sign-and-trade with Houston to generate a huge trade exception. However, there’s no reason for the Rockets to agree to that unless they’re incentivized to do so, so the Raptors would probably have to give up a second-round pick or two to make it happen.
Thought it was going to be the Spurs
Fred VanVleet is making more money per year than:
Anthony Davis
Luka Doncic
Trae Young
Pascal Siakam
Devin Booker
James Harden
Jamal Murray
Brandon Ingram
Ja Morant
Darius Garland
Zion Williamson
SGA
Donovan Mitchell
And Kyrie Irving since his deal slightly surpasses Kyrie’s.
It’s stupid money for a slightly above average starting NBA PG.
As a Raptors fan I am thrilled we aren’t paying this dude. IMO, anything over $20M was too much.
Agree. VanVleet is good but not that good. The new contract with the Rockets is excessive.
He also has what only two of those guys have, a ring
That’s a bag
Good God what a massive overpay here. he’s not worth half that. First bad move since the tanking started a couple years ago.
They have more money than anyone in the league and have to use a lot of it. Ppl say the Rockets are a glorified AAU team and need vets. Then they get a vet and leader and now they’re “overpaying.” The Rockets have no one to pay for 2-3 years from their young core.
It’s an overpay. And a bad one. Could’ve taken that money and grabbed two for that price. Good player, but not at $43M per.
They can still get another player regardless of this contract. Why use this money on 2 others when they still have MORE money to use? They have their young core and needed 2 vets to bring into the rotation and help these young guys. They’re about to have players to trade bc they have too many young players and some won’t play.
Day 1 FA signings are overpays most of the time.
Agree. So far, the Rockets have done such a good job rebuilding. Why jam up their payroll by overpaying VanVleet? Should have just been patient and stayed the course. Think will be disappointed three years from now.
They desperately needed a point guard and stop the Kevin porter as a point guard show and the 3rd year is a team option. When Bruce brown is getting 2 years 45 million then FVV getting 2 years 86 million makes sense
Wow got someone. Who we get next
Good call. They HAD to spend at least 40m give or take and now that’s done, I doubt they’ll flood the roster. A good SF(likely via trade) and a back up C will most likely be the route.
Happy for Fred to get a huge bag. Happy not being Raps paying that.
I know why they did it but….. They have to spend. But come on now. Fred is good but a poor shooter.
Lol worst deal of the entire FA market. Rockets going to Rockets
Rockets are Desperate
Not really they had to spend by nba rules. Pay for a position of need on an over pay, or spread it over 3+ players that will eat play time for the players they’re trying to improve.
BINGO. So many people just don’t get it.
No most people get it. U just don’t give that kinda money to a guy who doesn’t move the needle. U act like well it’s a car so if I have 50,000 I should spend it even if the car is only worth 10,000. These type of moves get GMs fired.
Mr. Grant and the blazers would like to have a word with you.
There wouldn’t be much to talk about. Grant got what his market value should be on a yearly basis even if the contract has two too many years.
The Grant deal is no where NEAR as bad as this. Say what you want but Grant was an efficient scorer and is making $8-$10 mil less per year. You’re crazy
Grant > Van fleet
Philly gonna choke year after year what’s new. Phillies 76ers eagles all suck
The grant one in Portland might be the worse. Or at least 1b
Y’all gonna keep a straight face and tell me that Grant isn’t worth $2.5 million more than Jordan Poole?
Portland 5 year 160 million to Jerami Grant is the worst
One year could be flukiest but Grant at 47/40/82 was better than 39/34/89
Minimum salary. Rockets had to hand out $60m+ this off season or the new CBA clobbers them. Same reason the Pacers overpaid Brown.
What a backcourt!!! Freddie/JGreen/Porter/Amen
Indeed ……. it just might be enough to get a shot at that last play-in spot.
Never pay B or C level players max money. It’s the fastest way to paralyze your organization.
They needed someone to take their money to satisfy salary cap rule. Rockets aren’ta top destination to go to right now as they aren’t going to be competitive for a few more years
Freddy is the ultimate penny stock. If you are the Raptors you bought at 50 cents and sold at the top. He already gave the best basketball of his career and it’s downhill from here. His body, athleticism, small stature have peaked. Terrible contract.
Raptors didn’t sell anything. He simply walked away from them and it’s interesting that the raptors offered 3 years at 120 but rockets got him at 2 years 86 million with a team option for year 3
Fred VanVleet getting 3 years $130 million is a major bag!!!! I really love to see it. He’s been very solid his whole career. The Houston Rockets made a power move.
Good for Freddy VanVleet betting on himself twice and winning both times. Not sure what this does for the Rockets though other than taking the ball out of Green’s trigger happy hands. $41 million is a bit of an overpay but not by much. He’s a veteran PG a team close to contending brings in to put them over the top. The Rockets are nowhere near that level.
Add Lopez, the Rockets have they right pieces to turn heads. Lopez and JVV with the you core of TyTy, Christopher, Eason, Jabari Smith, Sengun, Tate Jr, and new draftees Amen Thompson and Cam Whitmore in the mix as well. KPJ can be traded but I like to see Rockets hold onto him. Green and Martin Jr may get a decent return. But with KPJ contract extension, he will probably be the one to go over Green. I hated Green being drafted over Mobley then and still do today. But I think just about every young player on the Rockets roster, can be traded out. Should be an interesting few months. Toronto does need a guard and Rockets should consider a sign and trade that involved KPJ, Green, Martin Jr, and/or Garuba. Garuba doesn’t play much and could help Portland as well
In hindsight they should have traded him at the deadline
Yep
So true. Got nothing back.
Im extremely hopeful that this makes Toronto more likely to trade Siakam… DeAndre Hunter, Onyeka Okongwu, Rudy Gay & a 1st rd pick for Siakam sounds reasonable to me
Andrew Wiggins for Siakam clears that package and keeps Toronto moving forward.
2 starters plus a 1st rd pick > 1 starter… I love Wiggins but Siakam is pretty clearly better than Wiggins, Toronto would never do that trade
No thanks. Spicy P can stay in Canada for those offers
Didn’t Siakam come out and say he wants to be a Raptor his entire career?
link to thestar.com
Great pickup, if Houston can stay away from Harden, Russ and Kyrie, the further they will get further in the playoffs.
Fred VanVleet deserves to get paid well. He’s a champion and a leader. He got dog in him and he plays defense. I’ll rather pay him than James Harden because James Harden don’t bring none of the above.
Yeah but his shooting and defense fell off a cliff last year. Fred’s a chucker and trys to play to much hero ball.
Maybe the biggest overpay of all time.
Timofey Mozgov would like to have a word. Possibly, Ben Simmons as well, but he got his bag on past results.
Not even the biggest overpay of the day. Bruce Brown got 2 years 45 million. It’s like some of you don’t even watch basketball you just repeat what people like Steven A say
That’s ridiculous lol
Toronto Raptors might have to go after D’Angelo Russell or Dennis Schroder.
The Raptors could get one of those two for a quarter of what the Rockets paid VanVleet.
Rockets will make the playoffs this year no doubt about it
If I was porter. I would request a trade. Get me out of here
Not worth it. Not my money.
I know Porter will be pissed ….. now
I like VanVleet on Rockets. But it’s too much for him.
Rockets had to overpay. Van Vleet probably used his “loyalty” for the Raptors to squeeze that 3rd year out of the Rockets. Only 2 of their players will probably be restricted free agents for that 3rd year (Green, Sengun) so it won’t hurt them too bad. Now they go for Dillon Brooks and Brook Lopez. If they get Lopez, they’ll probably do a sign and trade for one of those guys. If they miss out on Lopez, I think they are going to trade to get Clint Capela back.
Congratulations Freddy! Well deserved! We will miss you in TO
3 year deal is fine. Is it an overpay? Yes. Were they gonna be able to sign him without an overpay? No. He’s a good fit and hopefully spells the end of KPJ starting and jacking up shots. If FVV can bring consistency to the court and slow Jalen down some and help Jabari’s development the money is worth it. Now just need a center (Brook Lopez maybe) that can play some defense and split minutes with Sengun and the Rockets will have achieved the start is Phase 2. Are they a playoff team? Likely not more than the play in at best but not a bottom dweller either.
Don’t forget about Jabari Smith, (doesn’t play much) Garuba, Tate Jr, Martin Jr, and Eason as forwards to go with Sengun. I love Lopez coming to Houston and won’t argue that he shouldn’t. I will with Dillion though. I would take a pass on Dillion. I’d take Christian Wood if he would come back to Houston over Dillion. Then it gives Tate Jr, Eason, and Martin Jr time at SF. PF would be Smith, Wood, and Garuba. C would be Sengun, Lopez, and Garuba.
Christian wood? Oh you mean the guy who’s still a free agent and nobody has been connected to? You mean the guy that the worst team in basketball cheered when he was finally traded away because he’s a me stats guy who doesn’t play defense? James Harden has a better chance to play for the rockets then Christian Wood and that’s saying a lot
I agree that it’s a bit of an over pay but with role players/bench guys getting 20mil+ I guess that’s where the markets at. I personally would’ve preferred gabe vincent for much less, but that doesn’t mean gabe would’ve came to Houston.
What is Hou doing? You could’ve got Kuzma, Gary Trent Jr and someone else for the same money. Fred sucked last year
Wow that’s a crazy contract. Makes Brunson Knicks contract look better and better.
Except for the fact that he didn’t suck. His stats were pretty much on par for his averages. But apparently none of you actually look any of that up and just keep saying this nonsense
His shooting percentages dipped a little but his assists and steals went up. He was also injured last year. Definitely a huge upgrade at point guard over Kevin porter
LMFAOOO brutal move by a brutal organization
Oh do tell us more!
Not even a sign and trade. Held onto him for a play-in berth? Masai is losing it.