The Suns have informed Chris Paul that he will be waived, a move which will likely make the 12-time All-Star point guard a free agent this offseason, according to Bleacher Report’s Chris Haynes.
Paul has two years remaining on a four-year, $120 million contract he signed with Phoenix prior to the 2021-22 season. The pact calls for him to earn $30.8 million in each of those seasons, but the Suns only have to pay the future Hall of Famer $15.8 million if they part ways with him prior to June 28. If Paul clears waivers, which is likely considering the 38-year-old’s current contract calls for him to be paid $61.6 million over the next two seasons, he will become a free agent.
Shams Charania of The Athletic reported that Phoenix is exploring several options, including a possible trade or stretching Paul’s contract over multiple years to reduce the salary cap impact. The Suns also could waive Paul and re-sign him as a free agent if he clear waivers. ESPN’s Adrian Wojnarowski reported that Paul wants to return to the Suns and keep playing alongside stars Kevin Durant and Devin Booker.
Haynes reported that Paul still wants to play “several more years” and compete for an NBA championship. In the 2022-23 campaign, Paul averaged 13.9 points, 4.3 rebounds and 8.9 assists per game during the regular season.
In this year’s playoffs, Paul averaged 12.4 points, 5.0 rebounds and 7.4 assists per game in seven starts. Paul missed the final four games of Phoenix’s second-round playoff series loss against Denver with a left groin strain.
Paul was selected at No. 4 in the 2005 NBA draft by the New Orleans Hornets. After six seasons with the Hornets, Paul went on to play for the Clippers, Rockets and Thunder before being traded to Phoenix in November 2020.
