Toronto Raptors guard Fred Van Vleet turned down a contract extension worth about $114 million this offseason, a source told TSN’s Josh Luenberg.
The offer was the maximum amount the Raptors could offer, Lewenberg reported. VanVleet can still sign an extension for that amount until the end of the season.
VanVleet has a player option worth $22.8 million for the 2023-2024 season, according to Spotrac. He signed a four-year, $85 million contract with Toronto in the 2020 offseason.
The 28-year-old had a poor campaign for the Raptors, averaging 18.8 points on 37.7 percent shooting in 37.1 minutes per game. His three-point shooting also dropped to 32.5%, a new career low.
“I promise I will take all criticism, questions and concerns at the end of the season, but we have a long way to go. I’m not going to quit,” VanVleet said Friday, according to Lewenberg. “I will never put my head down. I will always stay positive and confident.”
Toronto has until Feb. 9 to decide if it wants to move the veteran guard. The Raptors have stumbled in their last 10 games, going 3-7. Holding a 16-23 record, Toronto has the sixth-best chance to land the first pick in the 2023 draft and a 37.2% chance of going in the top four, according to Tankathon.
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