Report: Knicks expected to offer Fred VanVleet deal worth over $22M per year

The Knicks are looking to build for the future after firing David Fizdale and hiring Tom Thibodeau as their next head coach. 

It was reported last month that New York is "all-in" on signing VanVleet, and the team could have upward of $40 million in cap space this offseason. However, the Knicks are just one of many teams expected to pursue the 26-year-old's services. According to The Athletic's Shams Charania, the Detroit Pistons and Phoenix Suns "are expected to emerge as suitors for VanVleet outside Toronto."

The Knicks also reportedly are "readying initial offers" for Chris Paul, so it appears anything can happen with the club moving forward. 

VanVleet is in the final year of his two-year, $18 million deal with the Raptors. He's been with Toronto since the 2016-17 campaign. 

The 2019 NBA champion has been one of Toronto's best players this season, averaging 17.6 points, 3.8 rebounds and 6.6 assists per game during the regular season — all career bests. He has emerged as one of the leaders of the Raptors following Kawhi Leonard's departure during the offseason.

The Raptors will be facing some tough competition this offseason for the undrafted guard's services, and they'll likely try to do everything possible to lock him up.