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Grayson Allen now eligible for 4-year, $75 million contract extension

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Today, Phoenix Suns guard Grayson Allen became eligible for a contract extension up to four years and $75 million with the Suns.

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Phoenix holds Allen’s bird rights, so the Suns are the only ones that can sign him to sign to this deal. The deadline for the extension lasts until June 30, the final day before free agency.

The Suns acquired Allen from the Milwaukee Bucks on Sept. 27 in the Deandre Ayton/Damian Lillard trade.

Allen, who is averaging 13.5 points, 3.8 rebounds and 3.1 assists across 66 contests, is having a career season in quite literally every single category. On top of this, he is leading the league in 3-point percentage at 47.9%. The Suns, sitting at 42-30 and eighth place in the Western Conference, would be a lot further down in the standings if not for Allen.

Allen is currently on the final year of a two-year, $18.7 million contract.

The Financial Stipulations of the Contract

It seems like a no-brainer for the Suns to sign Allen to an extension. However, the Suns would owe an additional estimated $65-70 million in taxes for signing Allen alone if he gets the maximum amount for this extension. With the Suns operating as a second tax apron team, Phoenix may have to pay up to $90 million to keep Allen.

Devin Booker ($49.3 million) and Kevin Durant ($49.8 million) are due just under $50 million next season. Bradley Beal will be making even more at $50.2 million.

Owner Mat Ishbia has said multiple times he doesn’t care about the money. When asked earlier this month about re-signing Allen and Royce O’Neale, another player Phoenix has the bird rights too, Ishbia made his intentions very clear.

“Royce and Grayson are two great guys,” Ishbia said on March 7 after it was announced the Suns were hosting the 2027 All-Star Game. “Royce is new to the organization, (but) has done an amazing job, everything you can think of. Grayson has been here all year. He’s been a phenomenal part of the team and the organization. We hope and expect to have both of those guys back, along with keeping this core team together because we love our team and we’re going to compete at the highest level.”

For Allen, the extension is not his No. 1 priority.

“I try not to think about it too much,” Allen told AZ Central’s Duane Rankin.“One, because it’s not a done deal until it’s signed. You don’t want to count it, start counting stuff too early before it happens. Another part of is it’s March and we’ve got 11, 10 games left. We’re getting at a time where you don’t want to have stuff like that on your mind cause it’s an individual goal for me and right now, it’s the Suns and team stuff. I don’t want to think about that kind of stuff too much.”

Where does Allen stand with the contract?

“I haven’t been thinking about it or playing for the contract or anything, but I feel really blessed to be in a position where I’m on a team I fit perfectly on in an important year for me career wise,” Allen said. “Very blessed to be playing this well and given the opportunity I’ve been given to help the team out as much as I have.

“It would be nice to be playing in one spot for the rest of my career, but an extension doesn’t automatically give you stability. Milwaukee signed me to a two-year extension and I only played one year of that contract there, but yeah, that would be nice.”

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Brendan Mau is a senior writer covering the Phoenix Suns and more for Burn City Sports. You can follow him on X via @Brendan_Mau


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