Knicks Rumors: Fred VanVleet under consideration, but no offer prepared yet

Are the New York Knicks hoping to sign Fred VanVleet?

While the New York Knicks are reportedly interested in pending free agent Fred VanVleet, with one report suggesting the Knicks could offer the Toronto point guard more than $20 million annually, SNY reports the Knicks have not gone as far as preparing an offer.

Of course, free agency is yet to begin, so no team can formally present an offer to a player still under contract with another team. The SNY report seems to indicate that New York has not gone as far as setting a number to offer VanVleet once they are allowed to negotiate a possible contract.

The Athletic was the first to report the Knicks are “expected to emerge as suitors” for VanVleet, with both Knicks Film School and the New York Daily News confirming that report. SNY added to their most recent report that the 26-year-old guard is indeed under consideration by the Knicks.

The 2019 NBA Champion has emerged as one of the top free agents on the 2020 market—a market that will undoubtedly be impacted by depressed league revenues resulting from the coronavirus pandemic.

As the NBA’s historic 2019-20 season comes to a close in Orlando, it is unclear when the next season will begin, with some reports suggesting it could be as late as February or March, depending on when owners feel confident fans can return to arenas in some capacity.

The Knicks are one of the few teams who will have plenty of money to spend this offseason, even under a flat cap. Depending on what they do with several of their players on team options or non-guaranteed contracts, they can create close to $45 million in cap space. If team president Leon Rose wants VanVleet, he will have the financial resources to make an offer attractive.

However, Raptors coach Nick Nurse recently told a local radio station in Toronto that he expects VanVleet to re-sign with the Raptors.

Many NBA observers believe the Wichita State product could secure a contract similar to Malcom Brogdon’s deal last year, which would put an offer around four-years, $85 million, or right at $20 million in the first season, with modest annual increases.