Toronto Raptors president Masai Ujiri says the team is in "a good place" ahead of a potential extension for All-Star point guard Fred VanVleet.

VanVleet, 28, is eligible to sign an extension as of Oct. 17.

Ujiri says the team has already had conversations with VanVleet and his representation.

"Whether it's now or later on, Fred is beloved to us," Ujiri said. "...Hopefully, we'll figure [it out]."

A native of Rockford, IL, VanVleet is headed into the third season of a four-year, $85 million deal.

An All-Star for the first time last season, VanVleet averaged a career-high 20.3 points on .403 shooting, 6.7 assists and 4.4 boards over 37.9 minutes a night in 65 games in 2021-2022.

Undrafted out of Wichita State, VanVleet is entering his seventh NBA season.