Chris Paul released by Suns: Everything we know so far

Conflicting reports about Chris Paul and his future with the Suns have given the NBA offseason craziness an early start. Here’s what we know right now.

Chris Haynes of TNT and Bleacher Report threw the NBA world into chaos a few hours before Game 3 of the NBA Finals, with a report that the Suns would be waiving Chris Paul. The report was short on details and an immediate whirlwind of speculation spun up about what the Suns were trying. But as we learned more, the situation was revealed to be more complicated.

Here’s what we know right now:

The decision to waive Chris Paul isn’t final yet

According to ESPN’s Adrian Wojnarowski, Haynes’ report was slightly premature. The Suns are considering waiving Paul, but they’re also continuing to explore trade possibilities and waiving him more or may not involve using the stretch provision:

"“The Suns insist that they’re still working through several possibilities for Paul’s future and reiterated that to his representatives later Wednesday afternoon, sources said. Phoenix plans to explore trade opportunities including Paul and Deandre Ayton that could alter the franchise’s roster landscape ahead of a final decision on Paul’s partially guaranteed contract, sources said.”"

The deadline to waive Paul before his contract for next season becomes fully guaranteed is June 28 but Paul’s camp is reportedly pushing for the Suns to make a decision well before that date.

Waiving Chris Paul and stretching his contract would open the mid-level exception to the Suns:

The possibility of waiving Chris Paul as opposed to trading him might seem strange to most NBA fans, but it’s the easiest path to a clean cap sheet. If the Suns were to trade him they’d have to take back roughly equivalent salary so a trade only makes sense if they can find a partner willing to send back the kind of players the Suns need to rebuild their depth around Devin Booker and Kevin Durant. As Woj explained, waiving him clears the books for them to go out and sign two or three of the specific kinds of players they really need:

"“Only $15.8 million of his $30.8 million for the 2023-24 season is guaranteed if he’s waived — unless the Suns keep Paul past that June 28 deadline date. The expectation is that the Suns would stretch and waive the guaranteed portion of Paul’s salary next season ($3.16M per season over the next five seasons) to create more salary cap space and open up the team’s ability to use the $12.2 million taxpayer midlevel exception. Paul’s $30.8 million for 2024-25 is nonguaranteed.”"

Chris Paul could clear waivers and re-sign in Phoenix on a more team-friendly deal

It seems an unlikely possibility but on NBATV Isiah Thomas raised the possibility of Paul clearing waivers and then re-signing with the Suns on a more team-friendly deal that gives them additional financial flexibility to add depth this summer.

You’d normally take this kind of media report with an enormous grain of salt but Thomas happens to be a close friend of new Suns owner Mat Ishbia and there have been persistent rumors about him potentially joining the Suns front office in some capacity. Still, it seems unlikely that Paul would voluntarily surrender money to help the Suns, especially with the way the initial news was framed as a surprise for Paul.

If Chris Paul becomes a free agent there will be plenty of suitors

The Lakers and Clippers were immediately mentioned as potential landing spots for Paul if he were to clear waivers. Both could certainly use him and his friendship with LeBron James can’t be ignored. The Clippers are interesting as well, although he didn’t necessarily leave the team on the greatest terms after his first stint.

Sports Illustrated’s Chris Mannix also mentioned the Grizzlies, Celtics and Heat as potential landing spots.

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