Grant Hill has chosen to stay in Phoenix.
As the veteran forward was being courted by teams such as the Knicks and Celtics, he has spurned more money and a chance for a championship to stay with the team that has given him a resurgence in his career.
The contract is believed to be worth $3 million with a player option for a second year.
Hill will soon be joined by local product Channing Frye on the Suns roster.
Frye, who attended high school in Phoenix and college at the U of A, is close to signing a two-year deal with the Suns for close to $3.8 million with the second year being a player option
The Hill signing is an indication that the Suns are close to coming to terms on a new contract with Steve Nash. Continuing to play with Nash was one of the main reasons Hill had wanted to stay with the Suns.
The Frye signing all but signals the end to the talks of Ben Wallace being sent to New Orleans for Tyson Chandler.
With the Suns concerned about Chandler's health issues and an extra year on his contract with the prospects of the salary cap dropping even further, the Suns decided to go the cheaper route in the form of Frye.
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