Rockets net Fred VanVleet with $130M deal —reports

Point guard Fred VanVleet plans to touch down in Houston after agreeing to a landmark three-year, $130 million contract with the Rockets on Friday, according to multiple reports.

VanVleet opted out of the final year of his contract with the Toronto Raptors to enter free agency and was one of the biggest winners within hours of permitted negotiations with suitors. Free agent contracts aren't official until July 6.

Houston lost 122 games the past two seasons, and the Rockets had a projected $62 million under the new salary cap entering free agency.

Undrafted out of Wichita State, VanVleet, 29, was part of the Raptors' NBA championship team in 2019 and was an All-Star in 2022. His reported contract, worth $43.3 million per season and the first max-value NBA signing of the summer, would be a record for an undrafted player.

VanVleet's option year with the Raptors would have paid him $22.8 million for the 2023-24 season.

VanVleet has career averages of 14.6 points, 5.3 assists and 3.3 rebounds in 417 games (268 starts) since joining the Raptors in July 2016.

—Field Level Media/Reuters