PHOENIX – The first domino falls for the Phoenix Suns offseason, and it’s a massive one. ESPN’s Shams Charania reported on Saturday that the franchise and guard Collin Gillespie have agreed on a four-year, $48 million deal, securing the 26-year-old a major payday. Of the four key free agents heading into free agency, Phoenix is able to secure arguably the most important one, seeing how Gillespie set the season-single franchise record for threes made last year.
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Feb 21, 2026; Phoenix, Arizona, USA; Phoenix Suns guard Collin Gillespie (12) drives to the basket against Orlando Magic forward Jonathan Isaac (1) in the first half at Mortgage Matchup Center. Mandatory Credit: Mark J. Rebilas-Imagn Images
Gillespie returning to Phoenix:
The Suns catch a big break, as many experts believed the third-year guard could’ve received a payday into the middle to high teens annually. Plenty of teams were interested in the 6’1 foot guard, but the opportunity to remain with the team that allowed him to flourish and find his footing in the NBA got a discount. The first year of the deal will likely be $10.7 million and will put the franchise at around $192 million for the 2026-2027 season, nine million away from the luxury tax and $17 million away from first apron.
Dec 29, 2025; Washington, District of Columbia, USA; Phoenix Suns guard Collin Gillespie (12) reacts after scoring a basket against the Washington Wizards during the second quarter at Capital One Arena. Mandatory Credit: Rafael Suanes-Imagn Images
This is a massive win for the Suns’ development team, as Gillespie arrived two years ago and had struggled to make an impact. The Villanova alumni found limited minutes in his rookie season with the Denver Nuggets, and under head coach Mike Budenholzer, Gillespie never got his shine. When head coach Jordan Ott took over last season, he gave Gillespie the reins for the offense and took over, setting career marks in points, assists and rebounds. That confidence and production earned him a new deal and a new home for the next four years.
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Reporter Tanner Tortorella covers general assignment for Burn City Sports. You can follow him on his X account, @TannerTSports
