Report: Raptors Veteran Turned Down Huge Contract Extension Before Season

The Toronto Raptors are having a dismal season, to say the least. And perhaps no one player exemplifies that better than the one who took over the team leadership role from Kyle Lowry in 2021: Fred VanVleet. The diminutive-but-determined point guard is shooting a career-low 32.5% from three, and 37.7% overall. 

Which makes this report possibly troublesome for him: According to Raptors beat reporter Josh Lewenberg, VanVleet turned down a $114M extension offer from the team prior to the season. He still has a player option for $22.8M for next season with the Raptors, but it's expected he'll turn that down to become an unrestricted free agent. 

REPORT: Fred VanVleet had turned down a $114M extension from the Raptors before the season started. He has until the end of the season to sign the extension or he will have to test free-agency.

(via @JLew1050, https://t.co/kLgrRHAafW) pic.twitter.com/VRbgo7VbUD

— Legion Hoops (@LegionHoops) January 7, 2023

The Raptors have continued to say they're interesting in re-signing VanVleet. 

Mr. 'Bet On Yourself' will be 29 in February, and has been worn down the past season and a half by being forced to play a league-leading 38 minutes per game last season, and over 37 minutes per game again this year. He's been beset by injuries as well, on and off, likely due to the overuse. 

Despite his troubles this season, he's earned enough credit around the league over the past few years to command a good offer, but whether it'll surpass $114M is another question. Lewenberg, however, suggests that Tyler Herro's 4-year, $130M deal signed this past summer would be a comp that FVV could be shooting for. 

VanVleet, an All-Star in 2022, is still averaging 18.8 points and 6.2 assists in 31 games while shooting his usually stellar 88% from the free throw line. 

Photo: John E. Sokolowski-USA TODAY Sports