A couple of days ago, a report surfaced about a Raptors’ contract offer that Fred VanVleet apparently rejected. The deal was supposed to be worth $114 million over four years, but was turned down by VanVleet. That report turned a lot of heads around, with many people blasting the point guard for rejecting said offer. On Sunday, Fred VanVleet clarified that no formal offer was given to him by the Raptors yet, per Josh Lewenberg.

“There was never a formal offer made,” said VanVleet. “It was a mutual decision by both sides that the smart thing to do would be to wait it out. There was no rush, given that I could still sign the extension all the way through the end of the season.”

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Fred VanVleet is having a rough season for the Raptors, with most of his stats dropping way below his usual production. Part of that is due to injuries: the point guard has dealt with multiple maladies during the season. VanVleet could also be feeling the effects of his intense workload, as he’s averaging the second-most minutes in the game over the last four years or so.

The Raptors are not keen on trading Fred VanVleet yet, though, despite his struggles. The team is holding to hope that All-Star guard will get things going before the end of the season. When he’s healthy and well-rested, VanVleet can lead his team to victory. Plus, there’s really no one on the roster who can come close to taking over FVV’s many responsibilities.

Despite their ugly record, the Raptors are not ready to blow it up quite yet. We’ll see if their stance changes in the coming weeks, though.