Fred VanVleet is set to sign a two-year contract worth $50 million with the Houston Rockets, according to sources. This new agreement comes after the Rockets decided to decline his previous $44.9 million team option for the upcoming season. The contract includes a player option for the 2026-27 season, and it was finalized with the assistance of his representative, Klutch Sports CEO Rich Paul.
The new deal provides the Rockets with financial flexibility while allowing VanVleet to explore the option of entering the 2026 free agency market, where he may encounter more favorable salary cap conditions. Both VanVleet and the Rockets express confidence in building a lasting partnership beyond this two-year agreement.
At 31 years old, VanVleet returns to a Rockets team that has recently bolstered its roster through significant trades, including acquiring 15-time All-Star Kevin Durant. The offseason has been productive for the Rockets, who also recently extended center Steven Adams’ contract for three years at $39 million and secured a long-term deal with head coach Ime Udoka.
Since joining the Rockets in the summer of 2023, VanVleet has played a key role in transforming the team from a lottery contender to a playoff team. His first season saw the Rockets achieve a 41-win record, significantly up from 22 wins the previous year, and last season, they captured 52 wins, earning the No. 2 seed in the Western Conference, marking the end of a four-year playoff drought.
Despite averaging just 14.1 points during the 2024-25 season—his lowest output since 2018-19—VanVleet showcased his scoring ability in the playoffs, averaging 24.3 points on 56% shooting in the final four games of a tough first-round series against the Golden State Warriors.
VanVleet is recognized for his defensive skills and is an effective offensive player, particularly known for his playmaking and three-point shooting, having ranked second on the team in attempts last season. While he has faced issues with shooting efficiency at times, his overall career averages of 14.9 points and 5.7 assists demonstrate his value as a seasoned player in the league.
This move signifies hope for the Rockets’ continued growth and competitiveness in the league, as they build around established veterans and promising young talent.