Fred VanVleet has declined his $22.8 million player option with the Toronto Raptors and will hit unrestricted free agency. In recent weeks, the Klutch client has been linked to the Los Angeles Lakers, who are in the market for a point guard, ideally one of star-caliber.

Per ESPN's Adrian Wojnarowski:

VanVleet hasn’t ruled out negotiating a new deal and a Raptors return, sources said, but he becomes one of the most prominent guards in the marketplace and an immediate target of teams with cap space and several contenders who’d welcome discussions on sign-and-trade scenarios with Toronto, sources said.

It's safe to assume the Lakers are one of those “several contenders” who would entertain a sign-and-trade for FVV. The Lakers have reportedly brainstormed sign-and-trade deals involving D'Angelo Russell, who is also set to be an unrestricted free agent and is seeking about $20-$25 million per year. The Lakers have until June 30 to pick up Malik Beasley's $16.5 million club option and guarantee Mo Bamba's $10.3 million salary for 2023-24. Any of the above — along with the No. 17 pick in the 2023 NBA Draft and Jarred Vanderbilt ($4.5 million in 2023-24) — could be theoretically swapped for VanVleet.

Hypothetically, if the Raptors — who have to decide if they're rebuilding 0r retooling — are open to a sign-and-trade, the Lakers could send back Russell and the No. 17 pick, plus maybe a 2029 first-rounder or second-rounders (and/or Beasley+Bamba's expiring deals). VanVleet would then be eligible to sign a four-year, $114.2 million in Los Angeles (or three years, $88.7 million, plus an option).

VanVleet, 29, carries championship pedigree and a respectable 37.3% career 3-point shooting percentage — any third banana to LeBron James and Anthony Davis has to credibly space the floor — but he's coming off a down 2022-23 in which he made 39.3% from the field. Still, the basketball fit with the Lakers is easy to envision.

VanVleet opting into the final year of his contract would have made a Lakers trade much easier. A sign-and-trade would hard cap the Lakers at $169 million, meaning they can't go above that figure to fill out their roster, under any circumstances. The Lakers have previously been unwilling to be hard capped, though their ongoing exploration of Russell takers indicates some open-mindedness.

Assuming the Lakers resign Austin Reaves and Rui Hachimura — both priorities — they'll be on the hook for LeBron ($46.9 million), AD ($40.6 million), Reaves ($20 million?), Hachimura ($18 million?), Vanderbilt ($4.5 million), the No. 17 pick in ($3 million), and Christie ($1.7 million). That puts them at about $135 million, before factoring in cap holds, empty roster charges, and the No. 47 pick. The Lakers would have about $34 million left to fill out the final seven roster spots. If $30 million of that goes to VanVleet, they'd literally have to use minimum salaries for the final six spots, and even that may not work. In that scenario, they'd have to part with Hachimura or Vanderbilt.

There's no path for the Lakers to sign VanVleet outright unless they cleared out the entire roster besides LeBron, AD, Reaves, and Christie. That would leave Los Angeles with about $30 million in cap space to offer VanVleet, which could be about his market value. But, gutting a roster that just made the conference finals for a borderline All-Star coming off a subpar season would be hard to justify for Rob Pelinka, especially after he preached continuity at exit interviews.