Report: Optimism exists that Suns, CP3 will reach new deal in free agency
The Phoenix Suns believe Chris Paul could return to the desert.
Paul elected not to exercise the $44-million player option in his contract for next season, sources told ESPN's Adrian Wojnarowski. However, there's optimism he and Phoenix will come to an agreement on a new deal once free agency opens Monday, Wojnarowski reports.
A $44-million salary would have placed Paul among the top earners in the league next season. But by turning down the lucrative option year, Paul will become an unrestricted free agent, allowing him to negotiate a longer, more expensive contract with all 30 teams.
He reportedly had until 12 a.m. ET Monday to decide on the option.
The 36-year-old has never come as close to an NBA title as he did with the Suns this past season, reaching The Finals for the first time in his career. Phoenix ultimately fell just short, losing to the Milwaukee Bucks in six games.
The 16-year veteran also had a stellar season on an individual level, recording 16.4 points, 8.9 assists, 4.5 rebounds, and 1.4 steals per game. He narrowly missed out on joining the illustrious 50-40-90 club, finishing with shooting splits of 49.9% from the floor, 39.5% from deep, and an NBA-best 93.4% from the free-throw line.