Phoenix Suns sign Grayson Allen to a four-year, $70 million extension

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Phoenix Suns guard Grayson Allen has agreed to a four-year, $70 million contract extension with a player option.

Suns owner Mat Ishbia is raising his projected 2024-2025 payroll to $206 million, with another $104 million in luxury tax. To keep the core together, he will pay the highest tax in the league. Allen’s extension was key with limited roster flexibility under the rules.

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