NBA Rumors: Chris Paul nearing a 3-year $90 million extension with Phoenix Suns
After leading the Phoenix Suns to their first finals since 1993, Chris Paul is all set to extend his stay in the valley as per the latest NBA rumors. Paul joined the Suns via trade last summer from the Oklahoma City Thunder.
Outside of his performance on the court, Chris Paul has had a tremendous impact on his teammates. He's mentored the Suns' young core of Devin Booker, Mikal Bridges and Deandre Ayton while inculcating a winning culture into the team.
Phoenix Suns owner Robert Sarver has been vocal about Chris Paul's importance to the team, and as per Bleacher Report's Jake Fischer, a contract extension worth at least $90 million is in the works. Fischer wrote:
"The biggest fish, Chris Paul, appears all but destined to return to Phoenix, sources said, on a deal that's now widely rumored to be for at least three years, $90 million."
Chris Paul was instrumental for the Phoenix Suns throughout the regular season, but he was particularly impactful during the 2021 NBA Playoffs. Paul averaged 19.2 points, 8.6 assists and 1.2 steals per game in the postseason as the Suns made it to the finals.
NBA Rumors: What's next for Chris Paul and Phoenix Suns?
Chris Paul has a player option worth $44.2 million which he needs to decide on by August 1. Many fans speculated that he would decline his option and unite with LeBron James to chase the elusive NBA championship after failing at the final hurdle this time around, but that seems unlikely to be the case now.
CP3 would only consider turning down his huge player option if he were being offered a long-term deal and that seems to be the case now. But Paul's reported contract is set to have significant financial ramifications for the Phoenix Suns.
Both Deandre Ayton and Mikal Bridges will be extension eligible once the offseason starts and both are largely viewed as max contract players. Starting in the 2022-23 season, the Phoenix Suns could have as many as four players earning over $30 million annually. Building a competitive roster around them could put them deep into luxury tax.
The Phoenix Suns' upper echelon's commitment to retaining a championship-level roster will come under question in the future. For the time being, though, they seem willing to spend the needed money to keep competing at a high level.
Also read: NBA Rumors: Spencer Dinwiddie wants to pair up with Bradley Beal at Washington Wizards