Less than 12 hours into the free-agent monatorium period, the Raptors completed item number one on their to-do list this offseason. Fred VanVleet is re-signing with the Raptors on a 2 year, $18 million deal according to TheVertical’s Shams Charania.
It remains clear that Fred, a Sixth Man of the Year finalist, and the Raptors are a perfect pairing. Masai and the Raps love his defensive game and shot coming off the bench, and the once undrafted free agent undoubtably has a place in his heart for the team that took a chance on him. Under the Arenas provision, teams were restricted in salary for Fred’s first two years but could backload the salary and give him any number for years 3 and 4. Phoenix had been reported as a team possible to snatch Fred by perhaps giving him a big payday after year 2, but their signing of Trevor Ariza last night made it difficult to fit Fred into their cap space. Given all the teams that could have been interested, this is a huge victory for the Raptors.
At $9 million a year, the Raptors are using their early bird rights to sign VanVleet. The deal is short, but the thinking on Fred’s side of things is likely to hit the market in what will possibly be a friendlier market at a prime age of 26. Then, Kyle Lowry’s contract will be up, and the Raptors will have full birdrights.
The financial component of the deal may force the Raptors to make additional moves. VanVleet’s $8.24-million first-year salary pushes the Raptors further into the tax, with an estimate of $23.6 million in tax payments at the roster’s given state. It’s likely Masai believes he can make a deal involving Norman Powell or Serge Ibaka, and has time to figure that out.
It’s never a bad idea to retain a key player, and Fred was exactly that. He closed games and was by far the historically great bench’s best player. Today is a win for both the Raptors and VanVleet himself. As a wise man once said:
Bet On Yourself https://t.co/Py2RbwXPbJ
— Fred VanVleet (@FredVanVleet) July 1, 2018
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