Report: Suns tell Chris Paul they intend to waive him, making him free agent
There was a lot of talk in league circles that the Suns would try to trade Chris Paul around the NBA Draft — he still had $60 million over two years on the books, but only $15.8 million of it is guaranteed (all of that this season) with a June 28 guarantee date. Paul for a couple of rotation players would be a way for Phoenix to add needed depth to the roster.
Instead, the Suns informed Paul they intend to waive him before the deadline, making CP3 a free agent, reports Chris Haynes of Bleacher Report and Yahoo.
Sources: The Suns and Chris Paul are exploring multiple options, including a trade, stretching his contract, or waiving and re-signing him in free agency. Phoenix expected to discuss trades ahead of Paul’s June 28 contract date.— Shams Charania (@ShamsCharania) June 7, 2023
Story at @TheAthletic:https://t.co/5EwV2pFLZ6
Soon after Haynes’ Tweet, multiple other reports from Suns sources came out pushing back on the idea he would automatically be waived. Which seemed the logical path the Suns would take.
The second wave of reports says the Suns are exploring options with Paul of which waiving him is just one, with similar reporting from Duane Rankin of the Arizona Republic and Shams Charania of the Athletic, among others. The idea is the Suns would explore trade options — for Paul and Deandre Ayton — but waiving before June 28 could happen, according to the reports.
The Chris Haynes report is false. Suns having discussions about Chris Paul future but have not made a decision as of this time.— John Gambadoro (@Gambo987) June 7, 2023
So many burning questions about this.
The first question is, why did this leak now? Why wouldn’t the Suns keep their plans quiet through the NBA Draft on June 22 — when trades will be flying around — in case CP3 fits into a deal that worked for them? Another team looking to save money might have been open to a trade. If not, the Suns tell Paul they plan to waive him closer to his deadline. Or they keep him because they line up a Deandre Ayton trade. Or a few other options, like bringing him back.
This leak changes the dynamic and market for Paul.
Which may have been the plan. Paul’s camp and the Suns met to talk on Wednesday (reports ESPN’s Adrian Wojnarowski), it’s easy to draw a line after that where Paul’s camp leaked this angle to put pressure toward a buyout, which would be his preferred option because it makes him a free agent. However it went down, this it’s a strategic blunder by the Suns this got out because it shrinks the team’s options.
Another question: If it comes to it, would the Suns outright waive him (saving $15 million in salary next season, but only freeing up $5 million in spendable cap space) or waive and stretch him, which keeps him on the books for five years but at just $3.16 million a season (freeing up a little more than $12 million next season)? The big difference is the Suns can’t re-sign him if he is stretched, they can if he is waived outright.
After he is waived it leaves the Suns with just five players currently under contract for next season: Kevin Durant, Devin Booker, Deandre Ayton, Landry Shamet and Cameron Payne.
The other burning question: Where does Chris Paul play next season?
Assuming he is waived and becomes a free agent (not a sure thing by any means), the obvious landing spot is with the Lakers to play alongside Paul’s good friend LeBron James. CP3 has been wanting to return to his home and family in Southern California, the Lakers are a contender (at least after the All-Star break) in need of a game-manging point guard. Signing Paul to a deal (again for an exception, far less than the $30.8 million CP3 was under contract for) makes LeBron happy, but still leaves the Lakers room to re-sign Austin Reaves and Rui Hachimura without going above the second luxury tax apron.
Other teams would be picking up the phone and calling Paul, but the Lakers would be the frontrunners.
Paul, who will be 38 next season, averaged 13.9 points and 8.9 assists per game, and is still a quality point guard, but his skills on both ends showed clear slippage from his All-NBA years. Father time is winning the race. Wherever he plays next season, fans and the front office have to have reasonable expectations, but they are still getting a good point guard and one of the highest IQ players in the league. He would help the Lakers, the Suns and many other teams.
Where he lands is now a much more interesting subplot.