The Houston Rockets signed former Toronto Raptors guard Fred VanVleet to a three-year, $130-million max contract, his agents told ESPN's Adrian Wojnarowski.
One of the marquee names in this year's free-agency class, VanVleet's massive payday is a significant upgrade over the $21-million-per-year deal he signed in 2020.
His $43.3-million average annual salary will rank as the 13th-highest mark in the NBA, and his full contract sets the league record for largest by an undrafted player, according to ESPN Stats & Info.
The 29-year-old had a down year in 2022-23 after making the All-Star Game the season prior, averaging 19.3 points per game on 39.3% shooting from the field. He did, however, post a career-best 7.2 assists per game.
Joining the league in 2016 after a storied college career at Wichita State, VanVleet has played his entire seven-year NBA stint in Toronto. He spent the entirety of his first two seasons coming off the bench but slowly became a staple in the Raptors' starting lineup.
After struggling to begin Toronto's championship playoff run in 2019, VanVleet shot nearly 53% from beyond the arc over the team's final nine playoff games, immediately becoming a household name within the franchise.
A true floor general with deep range, VanVleet has had issues with efficiency as his role has increased significantly over time. He's also played heavy minutes, ranking in the top 10 league-wide in minutes per game each of the last four seasons.
The Rockets will inject VanVleet into one of the youngest lineups in the NBA. Houston only started one player over the age of 24 in the backcourt last season. He'll serve as a steady presence for up-and-coming scorer Jalen Green and rookie guard Amen Thompson from the get-go.
Meanwhile, the Raptors only have Malachi Flynn on their list of point-guard depth. Toronto subsequently signed veteran Dennis Schroder to fill the vacant spot left behind by VanVleet.
