For the Houston Rockets, it's already been an exciting offseason, with the team trading for NBA superstar Kevin Durant earlier this week. The Rockets also inked extensions with big man Steven Adams and head coach Ime Udoka in recent weeks.

Apparently the action isn't slowing down as the Rockets have reportedly agreed to a contract extension with guard Fred VanVleet.

Senior ESPN NBA analyst Sham Charania is reporting that VanVleet intends to sign a 2-year, $50 million contract with Houston.

Charania is also reporting that VanVleet has a player option for the 2026-2027 season.

In 60 games, VanVleet averaged just over 14 points and 5.6 assists per game last season.

Per NBC Sports' Kurt Helin:

This is a team-friendly deal for the Rockets that gets them below the luxury tax line, helping them avoid the repeater tax. It also opens up the full $14.1 million mid-level exception to add more talent to the roster. For VanVleet, it's more total money and an extra year of security.

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