Fred VanVleet leaving Raptors to join Rockets on 3-year, $130M US max deal: reports

The Toronto Raptors are entering a new era, bidding farewell to stalwart point guard Fred VanVleet, re-signing centre Jakob Poeltl and welcoming German guard Dennis Schroder.

VanVleet is leaving the Raptors after seven seasons and signing a three-year, $130-million US contract with the Houston Rockets, according to multiple reports on Friday.

After going undrafted in 2016 out of Wichita State, VanVleet signed an NBA Summer League contract with the Raptors and steadily rose through the club's ranks to become an embodiment of Toronto's successful player development.

The Rockford, Ill., product went from G League champion to NBA champion and all-star.

In 2021-22, he filled the point-guard void left by franchise icon Kyle Lowry and earned all-star honours with a career-high 20.3 points per game.

Now the 29-year-old is reportedly signing the largest contract for an undrafted player in NBA history.

Last season, VanVleet averaged 19.3 points and a career-best 7.2 assists as Toronto finished with a 41-41 record and missed the post-season after a play-in loss to the Chicago Bulls.

WATCH | VanVleet breaks Raptors' single-game assist record with 20:

VanVleet, who was heavily involved in trade rumours at last season's trade deadline, declined his $22.8-million player option two weeks ago to enter free agency.

He joins a Rockets team that hasn't topped 22 wins in the last three seasons, but that's brimming with young talents in guard Jalen Green, forward Jabari Smith Jr. and centre Alperen Sengun.

The Raptors moved quickly to replace VanVleet by reportedly signing Schroder to a two-year contract worth $26 million.

Schroder averaged 12.6 points and 4.5 assists for the Lakers, shooting 32.9 per cent from three-point range.

The 29-year-old arrives in Toronto after stints in Atlanta, Oklahoma City, Los Angeles, Boston and Houston.

Despite losing VanVleet, the Raptors managed to retain one of its free agents.