The future Hall of Fame point guard signed an extension in Phoenix before last season — will it be his last? Boardroom looks at the details of the Suns’ Chris Paul contract.
Chris Paul is a player whose career accomplishments demand sweeping superlatives. He has proven himself over and over as one of the best point guards and best overall players of his generation, and has remained more than effective throughout his 16 NBA seasons on both ends of the floor. He has guided multiple franchises to playoff runs, including those who were seemingly addicted to mediocrity before he arrived. And in an NBA era increasingly full of seven-footers with handles, the modestly-sized Point God is Hall of Fame-level proof that skill and productivity transcend height.
In 2021-22, CP3’s first year with the Phoenix Suns, the team won 51 games and reached the NBA Finals for the first time since 1993. He helped to orchestrate a turnaround for a franchise that won 54 total games total in the two years before his arrival. The 12-time All-Star opted out of his previous contract — a four-year deal worth just under $160 million — to re-sign with the Suns at 4 years and $120 million. While last season ended with a Game 7 playoff defeat at the hands of the Mavericks, Phoenix is still very much a contender in the West once again.
With that in mind, Boardroom takes a look at the details of the Suns’ Chris Paul contract, which stands a solid chance of being the last one he’ll ever sign.
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Chris Paul Contract Details & Salary
All dollar figures via Spotrac.
Years: 4
Total value: $120,000,000
Average annual value: $30,000,000
Guaranteed at signing: $75,000,000
Free agency: 2025
Annual contract extension earnings:
2021-22: $30,800,000
2022-23: $28,400,000
2023-24: $30,800,000
2024-25: $30,000,000 (non-guaranteed)
Paul will earn $30 million in the final year of his current deal, which is also his age-40 season. He opted out of the final year of his previous contract that would have netted him over $40 million; the switcheroo meant the Suns were less financially strapped on the front end. This was especially critical while the decision to extend center DeAndre Ayton ahead of restricted free agency was up in the air and Devin Booker drew closer to qualifying for a supermax extension.
Ayton and Booker both ultimately received lucrative extensions this offseason, a reality that would have seemed less likely by comparison happen if the Wake Forest product wasn’t willing to renegotiate. CP3 is now the No. 12 highest-paid point guard in the league, though he’ll finish the 2022-23 season as the No. 2 highest-earning player in NBA history, surpassing Kevin Garnett and looking up only at LeBron James. This contract is both a more than reasonable deal for the kind of player Paul is still capable of being, as well as a symbol of gratitude for the kind of guy he’s been for the fans in the Valley.
If this truly is his final contract before retirement, it’s a fine payday for one of the NBA’s all-time greats.
Chris Paul’s Career Earnings
TOTAL NBA EARNINGS THRU 2021-22: $330,709,419 (No. 3 all-time)
ESTIMATED SALARY EARNINGS THRU 2024-25: $419,909,419
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