Grayson Allen Signs Massive Four-Year Extension With Suns, per Report

The sharpshooter led the NBA in three-point percentage this season.

Grayson Allen / Joe Camporeale-USA TODAY Sports

The Phoenix Suns finished the 2023-24 NBA season with a record of 49-33 and avoided the play-in tournament by the slimmest of margins. By virtue of a win on the final day of the year, the Suns finished sixth in the Western Conference and will face the Minnesota Timberwolves in the first round of the playoffs. It did not take the Suns long to start rewarding those who helped them get there.

On Monday, Phoenix signed Grayson Allen to a four-year extension worth $70 million. ESPN's Adrian Wojnarowski was first to report the news. The final year of the contract is a player option.

Allen joined the Suns in September from the Milwaukee Bucks as part of the Damian Lillard trade. At the time he was viewed as a useful depth piece for a very top-heavy roster featuring Kevin Durant, Devin Booker, and Bradley Beal. However, Allen has exceeded expectations.

The former Duke Blue Devil averaged 13.5 points per game on 49.9% shooting from the floor. He led the entire NBA in three-point percentage, knocking down 46.1% of his tries from beyond the arc on 5.9 attempts per contest. Most importantly, Allen has been available. He played in 75 of 82 possible games this season.

Durability is a trait lacking in this Suns squad; the Durant/Booker/Beal combo missed a combined 51 games in 2023-24. Allen's reliability was huge for Phoenix in keeping the ship afloat when the stars were sidelined. That was likely the driving factor in the Suns' decision to ink Allen to an extension before seeing how he looked in playoff action.

It is a reasonable contract for Allen, given his skillset, but it makes a mighty payroll even mighter in Phoenix. The Suns' payroll is now $206 million for the 2024-25 season and the luxury tax is projected to add on another $100 million. Owner Mat Ishiba, in his first year of running an NBA franchise, is clearly not afraid of running up the bill in pursuit of winning.

Which is, of course, the stickler here. The Suns have to win in order to justify the cost of the roster. Avoiding the play-in tournament was a good first step towards doing so. Next week the real work will begin with Game 1 against Minnesota.