Suns' Grayson Allen Signs 4-Year, $70M Contract Extension Ahead of 2024 NBA Playoffs

The Phoenix Suns didn't wait when it came to Grayson Allen's impending free agency.

ESPN's Adrian Wojnarowski reported Monday the team agreed to a four-year, $70 million extension with Allen that includes a player option. Wojnarowski cited the salary-cap implications that necessitated a deal:

Allen, who turns 29 in October, is coming off his best season after his sixth NBA campaign. He averaged a career-high 13.5 points on 49.9 percent shooting (NBA-best 46.1 percent from three) with a 64.9 effective field-goal percentage.

Allen began his career with the Utah Jazz, who selected the ex-Duke star with the No. 21 overall pick in the 2018 NBA draft. Allen only last one season in town, however, after the Jazz dealt him to the Memphis Grizzlies in a five-player dealt that brought Mike Conley back.

Two years later, Utah dealt Allen to the Milwaukee Bucks. After another two seasons there, Allen was sent to the Suns in the monstrous three-team deal with the Portland Trail Blazers that most notably sent Damian Lillard to the Bucks.

The trade to Phoenix unlocked Allen's NBA ceiling and potential. He's become a sharpshooter for the Suns, who have clearly benefitted from his breakout.

In a year when the Suns have dealt with numerous injuries to their Big Three of Kevin Durant, Devin Booker and Bradley Beal, Allen has been a consistent scoring threat for the Suns. He's notably hit eight or more three-pointers on seven different occasions, including nine three different times.

The 2023-24 season marked a contract year for Allen. As noted by Duane Rankin of the Arizona Republic, the Suns had the option of offering Allen a four-year, $75 million contract extension by virtue of owning his Bird rights.

Ultimately, Phoenix ended up bringing him back on a lucrative contract, a smart move to keep a player just hitting his prime in town.