Suns' Bledsoe signed qualifying offer, 'just didn't send it in'

The Phoenix Suns needed the entire offseason to lock down a key piece of their future, one that would look a great deal different had Eric Bledsoe simply hit send on his fax machine. 

After a drawn-out negotiating process through most of the offseason, the team finally re-signed Bledsoe shortly before training camps opened. Phoenix now has Bledsoe on a five-year, $70-million contract, a deal many thought wouldn't come to fruition given the posturing and Bledsoe's reported willingness to play on a one-year deal and then walk.

Bledsoe had the option to play the 2014-15 season on the one-year, $3.7-million qualifying offer the Suns had to tender him to retain his restricted free-agency rights. Had Bledsoe chosen to do so, he would've become an unrestricted free agent this summer. Threatening to sign the qualifying offer is usually a leverage play, but in Bledsoe's case, it was a very legitimate option.

In fact, Bledsoe had already signed the qualifying offer.

"I just didn't send it in," Bledsoe said in an article published Monday.

While Bledsoe would still be on the roster this season had he taken that route, the team's future at the guard spots would be muddier. Goran Dragic can become a free agent this summer. The team signed Isaiah Thomas and drafted Tyler Ennis, but the Suns' system requires guards like Bledsoe who can spend time at the two.

With $70 million on the table, Bledsoe opted for long-term security over the chance to choose his long-term home and possibly land a maximum contract he was said to be after.

The Suns have gotten off to a decent start to the season at 6-5, but Bledsoe has played a little below expectations. While his defense remains tenacious and valuable, he's being used less on offense and has seen his scoring average and efficiency dip as a result.

Normally, a decrease in usage comes with an uptick in efficiency, and it's only been 11 games, so there's little to worry about from the tepid start.