The Toronto Raptors' Fred VanVleet is declining his $22.8million player option for 2023-24, and will become an unrestricted free agent in July.

The news was first reported Monday by ESPN's Adrian Wojnarowski, who also noted it's possible VanVleet returns to the Raptors under a new deal.

As one of the top point guards entering free agency, however, VanVleet will likely receive some enticing offers this summer.

Undrafted out of Wichita State, VanVleet has played his entire seven-year career with the Raptors and was instrumental to their 2019 title.

A first-year All-Star in 2021-22 when he averaged a career-high 20.3 points per game and 6.7 assists per games, VanVleet averaged 19.3 points, a career-best 7.2 assists and 1.78 steals to rank third in the NBA last season.

With averages of 17.5 points, 6.3 assists and 1.75 steals over the last four seasons, he is one of three NBA players (along with Dejounte Murray and Jrue Holiday) to average at least 17 points, 6 assists and 1.5 steals over that span.

Over the last three seasons, his average of 37.1 minutes per game trails only Toronto teammate Pascal Siakam.