Reports broke over the weekend that Toronto Raptors guard Fred VanVleet turned down a four-year, $114 million extension offer. VanVleet clarified after the Raptors victory on Sunday that those reports are misleading.

"There was never a formal made," said VanVleet. "It was a mutual decision by both sides that the smart thing to do would be to wait it out. There was no rush, given that I could still sign the extension all the way through the end of the season."

VanVleet is in the third year of a four-year, $85 million deal with Toronto before the 2020-21 season. He has a player option for $22.8 million for next season.