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.
