The Phoenix Suns have signed guard Grayson Allen to a contract extension. What are the specifics of the extension? View Grayson Allen’s contract details.
Grayson Allen Contract Details
Phoenix Suns guard Grayson Allen has agreed on a four-year $70 million contract extension with a player option, Mitch Nathan, Aaron Mintz and Steven Heumann of @CAA_Basketball tell ESPN. pic.twitter.com/RWX8VVsxGR
— Adrian Wojnarowski (@wojespn) April 15, 2024
Allen and the Suns have agreed to a four-year, $70 million contract extension, ESPN’s Adrian Wojnarowski reported on Monday. The contract includes a player option.
By re-signing Allen, Suns owner Mat Ishbia clearly does not care about the luxury tax if it means the team will win. Allen’s $15.6 million salary in the first year of his deal raises the team’s payroll to $206 million next season. The tax penalty will also increase from $41 million to $104 million (via ESPN’s Bobby Marks).
The Suns’ team salary of $206 million and luxury tax of $104 million are by far the highest in the league.
The Allen deal also pushes the Suns over the second apron by $16 million. Under the new collective bargaining agreement, the Suns cannot send cash in trades, use a preexisting trade exception, or aggregate contracts. Phoenix cannot trade its 2032 first-round pick if they finish next season over the second apron.
— Bobby Marks (@BobbyMarks42) April 15, 2024
Allen Having A Career Year
Grayson Allen ended the regular season number 1️⃣ in the NBA in 3PT percentage at 46.1% (Highest of his career), making over 200+ 3PT this season. Thank you for trusting me for almost three years with your jump-shot. More work to be done!🎯 -Stay locked in! @GraysonJAllen #NBA pic.twitter.com/6rkiJmO1eh
— Lethal Shooter (@LethalShooter__) April 15, 2024
Allen, 28, is having his best season since coming into the league in 2018. Allen is averaging 13.4 points, 3.9 rebounds, and 3.1 assists. The former Duke product leads the league in 3-point percentage at 46.1%.
Allen’s 205 3-pointers this season are the second most in Suns history behind Quentin Richardson’s 226 in 2004-2005.
Allen was acquired by the Suns from Milwaukee in the three-team deal that sent Damian Lillard to the Bucks.
The Phoenix Suns earned the No. 6 seed in the Western Conference and will play the No. 3 Minnesota Timberwolves in the first round of the playoffs.
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