Title: Suns Complete Multiple Trades with Spurs and Magic, Acquiring Assets and Reducing Luxury Tax
Date: July 17, 2023
In a series of recent trades, the Phoenix Suns have been active in reshaping their roster and financial situation. The Suns have completed deals with the San Antonio Spurs and the Orlando Magic, acquiring assets while also reducing their luxury tax burden.
According to well-informed sources, the Suns sent Cameron Payne, a second-round pick, and cash to the Spurs in exchange for a future second-round pick. This trade, as reported by Mingji Shams, has created a special case worth $6.5 million for the Suns, according to salary expert Bob Marks.
Payne, who has played four seasons for the Suns, contributed 9.8 points, 2.6 rebounds, and 4.2 assists per game over 174 regular season games, including 28 starts. His current contract is set to expire in the summer of 2024.
Additionally, the Suns made a significant signing in the free market. Mingji Woj reported that the team secured the services of Pol Ball with a one-year fully guaranteed contract. Ball, who was recently waived by the Orlando Magic, averaged 9.0 points and 5.8 rebounds per game in 70 appearances last season.
Furthermore, the Suns finalized a trade with the Magic, sending their first-round swap rights for 2026 in exchange for three second-round picks. The picks acquired include the Denver Nuggets’ 2024 second-round pick, the lowest second-round pick among the Detroit Pistons, Orlando Magic, and Milwaukee Bucks in 2026, as well as the 46-60 pick from the Boston Celtics in 2028.
The trade and acquisition of assets have helped the Suns reduce their luxury tax burden significantly. Prior to the deals, the team was set to pay a luxury tax of $79.5 million. However, with the departure of Payne and the signing of Ball, the luxury tax has now fallen to $53.1 million, resulting in a decrease of $26.4 million.
These moves come after the Suns lost several second-round picks in previous trades involving Kevin Durant and Bradley Beal. With the recent acquisitions, the Suns have managed to restock their collection of draft assets.
It remains to be seen how these trades and signings will impact the Suns’ performance in the upcoming season. As the team continues to make moves, fans and analysts will eagerly await the start of the new campaign.
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