Rockets land guard Fred VanVleet in NBA Free Agency, agrees to 3-year, $130 million deal: Sources

HOUSTON, Texas -- Free agent guard Fred VanVleet has agreed on a three-year, $130 million contract with the Houston Rockets, Klutch Sports CEO Rich Paul and agent Erika Ruiz told ESPN's, Adrian Wojnarowski.

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VanVleet turned down a $22.8 million player option with the Toronto Raptors for next season after averaging 19.3 points, 7.2 assists, and 1.8 steals, continuing a strong run of play since he became a full-time starter in 2019-20.

It was his third straight season averaging at least 19 points and his fourth straight averaging six assists.

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A volume 3-point shooter at the point guard position, VanVleet is an elite floor-spacer who can play-make and provide strong defense at the point of attack. He ranked third in the NBA in steals last season and first in deflections per game, according to ESPN Stats & Information research.

VanVleet helped the Raptors win a championship in 2019 with his hot shooting off the bench before taking over as the franchise's lead guard when Kyle Lowry departed two seasons ago. He's played his entire seven-year NBA career in Toronto and ranks third in total assists and fourth in total steals in franchise history.

Vanvleet also developed a strong relationship with head coach Nick Nurse over the years; Nurse is now coaching in Philadelphia after the Raptors moved on from him this offseason.

Vanvleet was undrafted out of Wichita State; he became just the fifth undrafted player to make an All-Star team two seasons ago. He signed a four-year, $85 million deal with the Raptors in 2020.

ESPN contributed to this report.