According to reports, the Toronto Raptors have re-signed Fred VanVleet to a deal worth $18 million over two years. This cannot be formalized until the end of the NBA’s moratorium period on July 6.

Shams Charania of Yahoo broke the news on Sunday Morning:

Restricted free agent Fred VanVleet has agreed to a two-year, $18 million deal to return to Toronto, league sources tell Yahoo.

— Shams Charania (@ShamsCharania) July 1, 2018

Toronto Raptors Re-sign Fred VanVleet

VanVleet’s contract will take him through the end of the 2019-20 season.

VanVleet is coming off his second year in the NBA with the Toronto Raptors. His role significantly grew this past season compared to his rookie year. In the 2017-18 regular season, he averaged 8.6 ppg, 2.4 rpg, and 3.2 apg in 20 minutes off the bench every night. He shot 42% from the field, including 41% from deep. He proved to be an important part in the stellar regular season that the Raptors had, finishing first in the Eastern Conference and making it to the second round before getting swept by LeBron James‘ Cavaliers.

The development and improvement of his game led him to finish third in the voting for the 2018 NBA Sixth Man of the Year Award, as well as to garner one 2nd place and three 3rd place votes for the Most Improved Player Award. Going into his third season in the league, VanVleet is sure to offer solid production as the first or second option off the bench, as he showed this past season with the Raptors. And being only 24 years old, VanVleet will definitely still improve along the way as the season goes on. Right now, he is looking to be a good deal for the Raptors.

Main Photo

TORONTO, ON – MARCH 1 – Fred VanVleet (23) of the Toronto Raptors lunges for a loose ball against Kelly Oubre Jr. (12) of the Washington Wizards during the 1st half of NBA action as the Toronto Raptors host the Washington Wizards at the Air Canada Centre on March 1, 2017. (Carlos Osorio/Toronto Star via Getty Images)