Per a report from ESPN’s Shams Charania, the Houston Rockets are declining Fred VanVleet’s $44.9 million player option for next season and will re-sign him on a two-year, $50 million contract, with the two sides having reportedly worked out a new deal.

Charania said on X: “Houston Rockets guard Fred VanVleet intends to sign a two-year, $50 million contract to stay with the franchise, with a player option in 2026-27, sources tell ESPN. Rockets are declining VanVleet’s $44.9 million team option and land the new deal with Klutch Sports CEO Rich Paul.”

VanVleet’s new deal comes days after the Rockets added 15-time All-Star Kevin Durant from the Phoenix Suns in a trade for Jalen Green, Dillon Brooks and the No. 10 pick in Wednesday’s NBA draft, plus five second-round picks as part of the trade.

VanVleet, 31, spent the first seven seasons of his NBA career with the Toronto Raptors where he helped them to the 2019 NBA title.  He just finished his second season in Houston where he averaged 14.1 points and 5.6 assists per game, and 1.6 steals in 60 appearances; shooting 34.5% from 3-point range. The Rockets signed VanVleet in 2023 to a three-year, $128.5 million contract that included a team option for the third year.

Houston finished second in the Western Conference at 52-30 and lost in seven games to the Golden State Warriors in the first round of the playoffs.

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