Houston Rockets guard Fred VanVleet is opting into his $25 million player option for the 2026-27 season, Klutch Sports CEO Rich Paul told ESPN's Shams Charania.
VanVleet's restructured deal comes as no surprise. The veteran and the team worked together to provide the Rockets with some short-term financial flexibility, while providing VanVleet additional years of security.
VanVleet had signed a two-year, $50 million contract last summer to stay with the Rockets in another deal that would give the franchise some financial flexibility and himself the opportunity to enter 2026 free agency. But the 32-year-old missed the entire 2025-26 campaign after suffering a torn right ACL during an unofficial team minicamp in the Bahamas ahead of training camp.
VanVleet's absence left the Rockets without a proven ball handler, hampering the team's offense last season. Houston attempted to employ a by-committee approach at point guard, but that lacked consistency, and the Rockets lost in the first round of the postseason.
VanVleet hasn't played since the 2024-25 season, when he averaged 14.1 points, his fewest since 2018-19. But the veteran ramped up his production in the 2025 playoffs, averaging 18.7 points in a first-round loss to the Golden State Warriors. VanVleet averaged 24.3 points on 56% from the field and 64% from deep in the last four games of Houston's seven-game series against Golden State.
VanVleet has averaged 14.9 points and 5.7 assists in his career. In Houston, he has been a dependable playmaker on defense and a veteran table setter on the offensive end who should mesh well with veteran forward Kevin Durant, who joined the Rockets last summer.
ESPN's Michael C. Wright contributed to this report.