Choosing not to exercise his $22.8 million player option, Toronto Raptors All-Star guard Fred VanVleet will become an unrestricted free agent in July, sources told ESPN on Monday. This decision is the first significant domino of free agency.

VanVleet hasn’t ruled out negotiating a new contract and a return to the Raptors, according to sources, but he’ll become one of the most well-known guards on the market and an immediate target for teams with cap space and several contenders who’d welcome talks about sign-and-trade scenarios with Toronto, they said.

VanVleet has repeatedly demonstrated his ability to be a lead guard who can have an impact on the Raptors’ ability to win, and there are teams with and without salary cap room who will have the tools to chase him.

VanVleet has drawn the attention of numerous teams. Many rumors surfaced around the trade deadline suggesting he would be moving to the Orlando Magic soon. There have been rumors that he would be the ideal fit to the excellent Milwaukee Bucks squad; these rumors will undoubtedly intensify with Adrian Griffin taking over as head coach. Griffin and VanVleet get along very well.

The LA Lakers, Chicago, New Orleans, Houston, and other teams have also gained prominence. VanVleet seems to fit in well in many locations that have a lot of emerging talent. It makes sense because VanVleet is a well-known leader and his rise from undrafted to indisputable All-Star would undoubtedly inspire the younger players around him.

The 29-year-old VanVleet spent his entire seven-year NBA career with the Raptors, where he was a key player in the team’s run to the 2019 NBA Championship.

VanVleet was among the top 10 players in assists-to-turnover ratio last season with an average of 19.3 points and a career-best 7.2 assists. According to ESPN Stats & Information analysis, VanVleet had six 25-point, 10-assist games last season, the most by a Toronto player in a season since Damon Stoudamire in 1996-1997.