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Suns mull options with Chris Paul, including trade, waive to re-sign

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The Phoenix Suns have informed Chris Paul that they intend to find a resolution this offseason that suits the 12-time All-Star and the Suns organization, which includes a potential trade or parting ways, per multiple sources. In July 2021, Paul signed a four-year, $120 million contract with Phoenix.

Approximately $75,000,000 is fully guaranteed, and Paul’s annual average salary is $30 million. Of course, the Suns would open up the full mid-level exception if Paul is waived, stretched, or traded. Therefore, Phoenix can use the guard’s situation to its fullest advantage, considering free agency begins July 6.

According to a few NBA betting sites, the Phoenix Suns hold fourth-shortest odds to win the championship next season in 2024. Sportsbooks are giving the Denver Nuggets, Boston Celtics, and Milwaukee Bucks better odds.

“The expectation is that the Suns would stretch and waive Paul’s contract, spreading the cap hit over a longer-term to create more salary cap space in ensuing years,” reported ESPN’s Adrian Wojnarowski. This is one suitable option.

Paul is still guaranteed $15.8 million of his $30.8 million salary for the 2023-24 season when and if he is waived. That is unless the Suns keep Paul beyond the June 28 deadline, which is the guarantee date. Phoenix could also re-sign the 18-year veteran to a smaller contract once he clears waivers.

Phoenix Suns are considering a number of options with Chris Paul, such as a trade, stretching his contract, or waiving and re-signing the 18-year veteran

If the Phoenix Suns guarantee his money and retain the 11-time All-NBA member, such a decision would only hinder the Suns from making roster moves under the new collective bargaining agreement. Paul’s $30.8 million for the 2024-2025 season is non-guaranteed. The amount will be fully guaranteed on June 28, 2024.

Additionally, the Suns might decide to stretch Paul’s $15.8 million guarantee over the course of five years at $3.16 million per season. Is he pondering retirement? On Wednesday, TNT’s Chris Haynes reported that Paul “plans to play for several more years and is eager to help a team contend for a championship.”

In 59 starts of the 2022-23 regular season, Paul averaged 13.9 points, 4.3 rebounds, 8.9 assists, 1.5 steals, and 32 minutes per game. The nine-time All-Defensive member shot 44% from the floor and 37.5% beyond the arc as well. He finished 20th in steals (91) and 12th in steal percentage (2.4%).

Furthermore, in the Suns’ 128-118 win over the San Antonio Spurs on Jan. 28, the guard scored a season-high 31 points in 40 minutes as a starter. He finished 12-of-60 (60%) shooting from the field and drained a 3-pointer. Also, Paul amassed seven boards, 11 assists, one steal, and two blocks.

 


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