APRIL 16: Allen’s contract extension is official, the Suns announced today in a press release.
“Grayson embodies our values and we are committed to him being a key member of our core as we continue to build together into the future,” Suns president of basketball operations James Jones said in a statement. “He has been outstanding for us this season, leading the league in three-point shooting while providing a versatile skillset and competitive spirit on both ends of the floor. Phoenix has become a home for Grayson and his family, and we are thrilled that they want to be part of this community and our winning culture for years to come.”
“I love being in Phoenix and believe in what we can achieve here,” Allen added in a statement of his own. “Thank you to Mat Ishbia and the organization for embracing me. I’m excited to make a long-term commitment to remain in this community and continue building with this team.”
APRIL 15: Grayson Allen has agreed to a four-year, $70MM extension with the Suns, according to Adrian Wojnarowski of ESPN. The deal, which includes a player option for the final season, was confirmed to Wojnarowski by Allen’s agents, Mitch Nathan, Aaron Mintz and Steven Heumann of CAA Basketball.
Allen has thrived in his first year in Phoenix, becoming the NBA’s leader in three-point shooting percentage this season at 46.1%. He also reached career highs by averaging 13.4 points, 3.9 rebounds, 3.1 assists and 33.5 minutes per game while making 73 starts.
Wojnarowski notes that the new contract will continue to escalate the Suns’ tax bill, which has exploded since Mat Ishbia bought the team midway through last season. Allen will make $15.6MM next season, pushing the team’s projected payroll to $206MM. That will result in an estimated $104MM in luxury tax payments, which would be the highest figure in the league.
Phoenix is currently projected to exceed the second apron by $16MM in 2024/25, Woj adds, triggering the most severe restrictions under the new Collective Bargaining Agreement. The Suns won’t be permitted to send out cash in trades, aggregate contracts or make use of a preexisting trade exception. They also won’t be able to trade their 2032 first-round pick if they finish next season above the second apron.
Allen had been headed for unrestricted free agency this summer, so the agreement locks up an important part of the Suns’ offense for at least three more seasons. With Phoenix already well above the salary cap, the team would have faced few options for replacing Allen if he had signed elsewhere.
The 28-year-old guard had bounced around the league since being selected by Utah with the 21st pick in the 2018 draft. The Suns were his fourth team in six years when they acquired him last summer as part of the three-team deal that sent Damian Lillard to Milwaukee. Allen had been a starter for the Bucks the past two seasons, but he was able to fully unlock his game on a Phoenix team where he’s surrounded by elite scorers in Kevin Durant, Devin Booker and Bradley Beal.
Seems like a massive overpay…
Has he really improved that much or are the Suns just desperately trying to keep role players around?
Both. Allen this year has been the Suns 3rd most valuable player for a lot of the season. With a more consistent shot diet, he’d be averaging much more than 13 ppg. He’s essentially played the same role as Beal this year but with better defense, and fewer opportunities. A do-it-all 2-way guard who is an elite shooter is a difficult skillset to find outside of stars.
On the other hand, 70 mil for a roleplayer is already a bit much, and the Suns luxury tax bill is already enormous. They kind of don’t have a choice, as they won’t find anyone who is near his level on the market, especially not someone willing to sign for a discount.
This is a bargain, he would command more as a free agent. $20M/year for role players or 6th men is pretty standard at this point. Wait until you see the max extension numbers, stars are going to be approaching 55-60m a year.
This is exactly what people aren’t understanding. They see the number and gasp but they don’t realize this is what all the players are making now. Max players make 300 million now so this is completely in line.
He improved for sure, but it’s more about your second question. With the new financial rules, they would only have vet min to spend. They would not have any of the exceptions to use, so they couldn’t afford to not sign him.
Tbh last I really saw much of him i thought minimum salary player… Then there were some immature moments on top…
Seems to of had a really good season… The article originally ended after the picture so I had no stats to go on…
You gotta be trippin’!
I see what you did there.
How did this guy not get invited to the 3pt Contest this year?
He did, he just turned it down. Same way Sam Merril did.
He’s worth it if he keeps shooting 3s that well.
Well that’s a serious overpay.
The Suns really went to the Finals in 21 and said our biggest problems are:
-this team is not nearly as expensive as it should be
-we don’t have enough unlikable players
-we have too many draft picks
Glad they’ve figured it out.
3 years ago, I predicted that Allen would lead the nba in 3% percentage.
Yes, he did.
He is worth 4 years $80 million contract.
Comparison
In 2021, Duncan Robinson Signed a 5 year $90 million contract with Miami .
Yeah, and how is Miami liking that move right now? Same will be said about Allen.
Allen is awesome. He can defend and shoot 3s.
Look how Bucks are feeling his absence. You need scappy players like Allen.
It starts with the UFA market, even more than the new CBA. With the exception of one position (C), the UFA talent pool has been comically shallow in recent years, and figures to be again. Last year, at least, there were not contenders with significant cap space to chase the few good players who were available. This year there most likely will be. Based on what the UFA market figures to look like this year, I can’t blame any team for wanting to get in front of it.
Phx fans cant be mad at this, its literally just money as they appear to be a super 2 team for the entirety of Kd’s tenure (at min)
Sac fans should be more upset as this possibly puts Monk’s number higher than they wanted it to go
They will operate under the aprons where the number actually matters quite a bit today
G-Allen be effin trippin rn
Massive overpay for a massive chode.