NBA rumors: Chris Paul intends to opt-out of contract in pursuit of multi-year deal

The Phoenix Suns will have to pay up for Chris Paul this offseason, and perhaps go into the luxury tax in the near future to extend their young stars.

CP3’s importance to this young Suns team has been obvious this entire season, and early in the playoffs. He has a calming presence from the point guard spot, and is the ultimate floor general next to All-Star Devin Booker. Paul averaged 16.4 points per game, paired with near nine assists on 50 percent shooting.

Those numbers warrant a lucrative deal this offseason given Paul’s contract is nearly up. Paul has a player option after this season and could be in play for an extension, likely his last as an NBA player.

Paul’s player option is for $44 million next season. While an enormous amount of money to turn down in most cases, Paul could lock in a multi-year deal, earning even more financial flexibility over the long-term. That number would reportedly be for near $100 million over three seasons, or until Paul is 39 years old.

Phoenix Suns in tough spot financially should they extend Chris Paul

For the record, Suns owner Robert Sarver can afford this. He’s even said he’d be willing to spend into the luxury tax to keep a successful team together. Well, second in the West and a potential second-round playoff appearance would qualify as successful.

Along with Paul, the Suns would have to sign DeAndre Ayton and Mikal Bridges to large contracts in the near future. Ayton could be worth the max, and Bridges anywhere up to and beyond $20 million per season. That would cost Sarver a pretty penny.

CP3 knows he’s injury-prone, and were he to wait another season in hopes of securing a longer-term extension, might not have a leg to stand on (perhaps literally). No one is giving a 37-year-old point guard that kind of money.

Should he act now, however, Paul can take a small discount for more payout by the end of his Hall-of-Fame career. It’s a realistic play for one of the most financially-savvy players in the NBA.