The Houston Rockets and guard Fred VanVleet have agreed to push back the decision deadline on his $44.9 million team option for the 2025-26 season to June 29, according to ESPN’s Shams Charania. The deadline had originally been scheduled for Friday. The extension gives both sides additional time to explore the option of exercising the deal or negotiating a longer-term agreement.

VanVleet, 31, just completed his second season with the Rockets after signing a three-year, $128.5 million contract with the team in July 2023. The deal included a team option in the final year. The veteran guard played a central role in Houston’s rise this season, helping guide the franchise to its first playoff appearance since 2020 and a 52-30 regular-season record — their first 50-win campaign since 2018-19.

Fred VanVleet's postseason surge highlights his value as Rockets weigh future ahead of June 29 deadline

In 60 regular-season games, VanVleet averaged 14.1 points, 5.5 assists, 3.7 rebounds, and 1.6 steals per game while shooting 37.8% from the field and 34.5% from three-point range. Though his scoring output dipped compared to previous seasons, his leadership and defensive presence proved instrumental in the Rockets’ turnaround under head coach Ime Udoka.

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The Houston Rockets invested heavily into Fred VanVleet during the 2023 offseason. Houston gave the point guard a three-year, $128 million deal in a move that was meant to turn the Rockets from a rebuilding team into a championship contending one. The signing did just that, as the Rockets finished the 2024-25 regular season as the two-seed in a stacked Western Conference. VanVleet was the veteran presence and 3-point shooter that the team desperately needed, and he still might have a role with the Rockets going forward. Houston has a team option on his contract for next year, and they very well may pick it up. The Wichita State product reportedly wants to stay in Houston, but the point guard would be set to make over $44 million next season under his current contract. The Rockets and their guard recently pushed back the deadline on Houston's decision with VanVleet, and although reports suggest that they are interested in writing up a new, long-term deal, it isn't necessarily a guarantee that VanVleet will be playing for Houston next year. The Rockets blew him away with an offer he couldn't refuse back in 2023, and another team could so the same when/if he hits the open market this offseason. If VanVleet does become an unrestricted free agent, which teams outside of Houston would make the most sense for him to sign with? 1. Orlando Magic Jalen Suggs and Franz Wagner recently signed big deals with the Orlando Magic, and Paolo Banchero will be getting a mega contract extension here soon. Because of that, the Magic no longer have money to blow like they have had in recent years. That will make a deal for another big ticket free agent hard to pull off, especially considering the team signed Kentavious Caldwell-Pope last year. If Orlando can make the money work, though, then Fred VanVleet would be a great fit with the Magic. The Magic finished dead last in 3-point shooting this season, and VanVleet has made at least 2.5 deep balls per game in every season since 2018-19. VanVleet can hit shots form behind the arc off of the bounce or in catch-and-shoot situations. The Rockets were heavily reliant on his shooting expertise, so the guard would have plenty of familiarity getting up deep shots with high volume if he signed with the Magic. While undersized, VanVleet is a pesky defender, so he'd fit right in with a Magic team that has one of the best defensive units in the league. VanVleet could play alongside Suggs and give opposing teams fits. Ultimately, though, the Magic just need more shooting to get to the next level, and VanVleet is arguably the best shooter who could be available on the open market this offseason. 2. Brooklyn Nets A more realistic option for a VanVleet destination would be the Brooklyn Nets. The Nets are set up to have the most cap space this offseason, and they have a major need at point guard. With D'Angelo Russell and De'Anthony Melton hitting free agency this offseason, the Nets don't have a true point guard under contract for next season. Brooklyn needs to spend big this offseason, and they'd be smart to offer VanVleet a contract big enough that he'd have no choice but to leave Houston. VanVleet averaged 14.1 points per game last season, which was his lowest mark since 2018-19. He is trending the wrong way, but he still has enough left in the tank to give the Nets a few good seasons. 3. Portland Trail Blazers In the same way that the Rockets were looking to take the next step in 2023, the Portland Trail Blazers could use VanVleet's presence to get over the hump. The Trail Blazers have plenty of big man depth, as centers Deandre Ayton, Donovan Clingan, Robert Williams, and Duop Death are all under contract next season. Portland also has a lot of wing depth. Deni Advija started to look like a star late this past season, Toumani Camara is an elite defender, Shaedon Sharpe is a freakish athlete, and Jerami Grant is a proven scorer. The team is thinner in the backcourt, though. Anfernee Simons is a solid scorer, but Scoot Henderson has looked like a fringe draft bust since being drafted third overall. Portland shouldn't give up on Henderson completely, but there wouldn't be any harm in signing another guard. Like the Magic, the Blazers were one of the worst 3-point shooting teams in the NBA. VanVleet would improve that weakness, and in a stacked Western Conference, Portland needs all of the help they can get if they are to compete for a playoff spot.
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VanVleet’s postseason performance saw a notable uptick in production. In the team’s seven-game first-round series against the Golden State Warriors, he averaged 18.7 points, 4.4 assists, 4.1 rebounds, and 1.0 steal per game. He shot 43% from the field and 43.5% from deep on 8.9 three-point attempts per contest across 40 minutes per game. The Rockets nearly rallied from a 3-1 series deficit before falling in Game 7.

With a promising young core that includes Alperen Sengun, Jalen Green, and Amen Thompson, the Rockets are expected to be active this offseason in an effort to build on their momentum. VanVleet’s contract situation will be one of the team’s key decisions, as the front office evaluates whether to retain him on the existing option or pursue a new deal that could provide greater roster flexibility.

General manager Rafael Stone and the Rockets’ front office are expected to weigh VanVleet’s value as a stabilizing veteran against potential opportunities in the trade and free agent markets. VanVleet remains one of the team’s most experienced players and is widely credited for his impact on the development of the Rockets’ younger talent.

The new June 29 deadline provides a window for both sides to continue discussions before the start of free agency. VanVleet’s future in Houston could have significant implications for how the team approaches its roster-building strategy heading into the 2025-26 season.