DEAL DONE: Phoenix Suns Sign another $400 Million deal

The Phoenix Suns’ decision to re-sign Josh Okogie, initially seen as a minor move, carries substantial financial implications. According to Shams Charania, the Suns signed Okogie to a two-year, $16 million deal, with the second year non-guaranteed for added flexibility.

This contract pushes the Suns’ payroll to unprecedented levels, making them the first NBA team with a $400 million payroll, comprising $223 million in salaries and $198 million in projected tax, as reported by ESPN’s Bobby Marks.

Strategically, Marks praised the Okogie signing as a clever move, giving Phoenix an $8 million trade asset under salary cap rules.

On the court, Okogie’s contributions have been modest—he averaged 4.6 points, 2.6 rebounds, and 1.1 assists per game last season. Nonetheless, his signing reflects the team’s financial strategy amidst their star-studded roster, including Kevin Durant and Devin Booker.

Durant and Booker, who together averaged 54.3 points per game in the previous playoffs, are expected to lead the team. Despite their scoring power, along with Bradley Beal, the Suns were swept by the Minnesota Timberwolves, highlighting gaps in their depth.

Beal’s struggles and early playoff exit emphasized the need for a stronger supporting cast as the Suns prepare for the competitive Western Conference.

Looking ahead to the 2024-25 season, the Suns must strengthen their supporting roster to avoid another early playoff exit, especially given their record payroll.

They face challenges from formidable teams like the Denver Nuggets and Dallas Mavericks. Another early playoff exit could hurt their standing in the league, despite having Durant and Booker.

The Okogie signing, while financially astute, highlights the Suns’ delicate balance between managing payroll and achieving on-court success in a highly competitive NBA environment.