Per multiple reports, VanVleet and the Rockets have agreed to a two-year, $50 million extension. VanVleet had a team option for next summer, but this contract will keep him with the team until 2026-27. The new deal will include a player option, per reports.

By declining VanVleet's $44.9 million team option and re-signing him to a longer deal, the Rockets save on next season's payroll, which now includes Kevin Durant's hefty salary.

Houston anticipates a cleaner offense with Kevin Durant, which should lessen Fred VanVleet’s scoring load and allow him to operate as a facilitator.