Fred VanVleet has declined his $22.8 million player option with the Toronto Raptors for the 23-24 season.

VanVleet has been expected to test unrestricted free agency this offseason.

VanVleet hasn't ruled out negotiating a new deal and a return to the Raptors. 

There are several contending teams interested in VanVleet on a sign-and-trade along with multiple teams with cap space.

VanVleet was a target of trade interest at the deadline and some of those teams could reengage.