Phoenix Suns owner and team governor Mat Ishbia told ESPN’s Shams Charania on Tuesday that he expects superstar Kevin Durant will sign a contract extension after the 2024-25 season.
Kevin Durant under contract with Phoenix Suns through 2025-26, will become eligible for a two-year, $120 million extension
Durant, 36, is currently in the third season of the four-year, $194.21 million contract he signed with the Brooklyn Nets in August 2021. He’s making $51.17 million this season and is slated to earn $54.7 million in 2025-26.
“We have a great relationship with Kevin,” Ishbia told Charania. “He’s a great guy, he loves being in Phoenix, we love having him. He’s off to an amazing start this season, one of the MVP leaders, and we’re off to a very good start. We expect Kevin to sign an extension, be with us for the long term.
“And we hope he finishes his career here in Phoenix. … We figured after the season we’ll talk about it, take care of it. But Kevin wants to be here, we want Kevin here. There’s never been one grumbling of anything different.”
Because of the Over-38 rule, Durant could have signed a one-year extension before the 2024-25 season for $59.7 million, which would have kept him with the team through the 2026-27 campaign.
However, during the 2025 offseason, the two-time MVP will become eligible to sign a two-year, $120 million extension that would take him through the 2027-28 season.
Durant signing the two-year deal would take him to seven seasons with Phoenix, the most since his Oklahoma City Thunder tenure
If Durant signs the two-year, $120 million extension, it would take him to seven seasons with the Suns franchise. Since leaving the Oklahoma City Thunder in 2016, Durant hasn’t spent more than four seasons with any team.
Ishbia’s latest comments echo ESPN’s Bobby Marks’ statements from his October report, saying there is a “strong likelihood” that Durant is waiting until the 2025 offseason to sign his new deal.
Durant will also become eligible to sign a two-year, $123.8 million extension in Phoenix. By waiting, the 17-year veteran would earn an extra $64.3 million. His current deal includes $6.27 million in total incentives.
Of course, Ishbia made a blockbuster trade to acquire Durant from Brooklyn on the same day he purchased the Suns for a valuation of $4 billion in February 2023.
In 75 games (all starts) with the Suns last season, Durant averaged 27.1 points, 6.6 rebounds, 5.0 assists, 1.2 blocks, and 37.2 minutes per contest. The two-time NBA champ also shot 52.3% from the floor, 41.3% from 3-point range, and 85.6% at the free throw line.
Through nine games (all starts) with Phoenix this season, he is averaging 27.6 points, 6.6 rebounds, 3.4 assists, 1.4 blocks, and 38.8 minutes per contest while shooting 55.3% from the field, 42.9% from beyond the arc, and 83.6% at the foul line.
Durant has been sidelined since Nov. 8 because of a calf strain. The Suns have gone 1-5 in his absence.
