The Toronto Raptors are working on contract extensions with guard Fred VanVleet and forward Thaddeus Young, Bleacher Report's Jake Fischer reported on Wednesday.
VanVleet is moving toward a four-year deal worth over $110 million, while Young is expected to return to Toronto on a two-year, $10 million contract, according to the report.
VanVleet would be eligible to sign a four-year extension if he were to opt out of his 2023-24 player option, which is set to earn him $22.8 million in the final year of the four-year, $85 million contract he signed in November 2020.
The 28-year-old averaged 20.3 points, 6.7 assists and 4.4 rebounds per game last season - all career-highs - and earned a place in the All-Star Game for the first time.
Earlier this month VanVleet said he wanted to remain with the Raptors for his entire career.
Meanwhile, Young is set to become an unrestricted free agent after being traded to the Raptors prior to the NBA trade deadline. The 34-year-old averaged 6.3 points, 4.4 rebounds and 1.7 assists per game in 26 appearances with Toronto, making an impact with his defensive presence and his playmaking skill on offence.
The Raptors' front office may be in for a busy offseason, with Pascal Siakam in line for a contract extension as well, as his current four-year, $136 million deal expires after the 2023-24 season. Toronto's leading scorer averaged 22.8 points, 8.5 rebounds and 5.3 assists in 68 games last season, and was named to the All-NBA third team.
Big man Chris Boucher is also an impending unrestricted free agent, and will command a significant raise from the $6.7 million average salary he earned in each of the last two seasons after a solid campaign coming off the bench.
Masai Ujiri and Co. will also have decisions to make on fringe players like Isaac Bonga and Yuta Watanabe ahead of the opening of NBA free agency on June 30.
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