The Toronto Raptors have a target in mind for the kind of contract they will offer point guard Fred VanVleet.

Stefan Bondy of the New York Daily News reports Toronto is hoping to sign VanVleet to a “Malcolm Brogdon-type contract.” Brogdon signed a four-year, $85 million deal with the Indiana Pacers during free agency last year.

That would appear to be a good start for the Raptors, who are still the betting favorite to re-sign their breakout guard. Toronto certainly remains confident in its ability to bring back the title-winning guard.

VanVleet's market appears to be shrinking quite a bit. The Phoenix Suns might have hoped to sign the former Wichita State star, but their acquisition of Chris Paul likely signals they will fill out the roster in other ways.

The Detroit Pistons also might have had interest, but they selected French youngster Killian Hayes with the seventh overall pick, and Derrick Rose remains on the roster.

It appears VanVleet's market has narrowed to the Raptors and New York Knicks. However, the Knicks are also wary of signing the 26-year-old to a massive deal.

Can New York outbid the Raptors and convince VanVleet to come to the Big Apple? The Knicks have the second-most projected cap space in free agency, per Spotrac. However, Toronto owns VanVleet's Bird rights, meaning they can go over the cap in order to re-sign him.

VanVleet has plenty of value to the Raptors. Kyle Lowry will be an unrestricted free agent after the 2020-21 season, and VanVleet's playmaking, shooting and defense would seem to make him a potential building block in Toronto.