While there are concerns about Bledsoe’s long-term health, the Suns are making a necessary gamble as they look to establish themselves as a playoff team.
After contract discussions that dragged on for much of the summer, the Phoenix Suns and Eric Bledsoe agreed to a five-year, $70 million extension. The two sides were initially far apart on a deal; the Suns reportedly offered Bledsoe a four-year, $48 million extension while Bledsoe was looking for a max contract of five years, worth $85 million. The two sides ultimately compromised, though more so on Bledsoe’s side.
This deal is risky for Phoenix, as there are concerns about his long-term health after he missed roughly half of last season following knee surgery. The health of his knees played a large factor in contract talks going on for so long. $70 million is a lot to invest in one player, but if he stays healthy Bledsoe is undoubtedly worth the money.
The Suns went 28-15 with Bledsoe last season, compared to 20-19 without him. Considering that they were eliminated from the playoffs on the final day of the regular season, it isn’t a stretch to say a healthy Bledsoe would have meant playoffs for the Suns.
The pairing of Bledsoe and Dragic made for one of the most exciting backcourts in the league last season. Additionally, the emergence of Miles Plumlee, Gerald Green, and the Morris twins, along with the coaching style of first-year head coach Jeff Hornacek, were factors in the Suns’ surprise season. They are a team on the rise, which made signing Bledsoe a priority despite his injury concerns.
What also likely played into Phoenix’s willingness to agree was the NBA’s lucrative new TV deal. Valued at $24 billion over the next nine years, the deal means the salary cap will continue to rise over the next couple of seasons, making contracts like Bledsoe’s more manageable, at least theoretically. At the very least, Phoenix will still have cap flexibility in the coming seasons, even with the contracts of Bledsoe and the Morris twins. Phoenix may have a bit of a problem if Dragic opts out for the final year of his deal in 2015-16 (and that seems likely given his performance), but again, the rising salary cap will help in re-signing him.
Ultimately, Bledsoe’s extension is a risk, but the timing makes sense. The Suns are in win-now mode, and Bledsoe is a big reason for that. He is arguably their best player, therefore locking him up long-term now, rather than having him accept the qualifying offer and become an unrestricted free agent next summer, was critical. Otherwise, there would have been the possibility of losing him to another team that could offer more.
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