NBA Rumors: Mike Budenholzer, Suns Agree to 5-Year, $50M Contract After Vogel Firing

The Phoenix Suns have filled their coaching vacancy.

Shams Charania of The Athletic and Stadium reported that the franchise has agreed to a five-year deal worth more than $50 million with Mike Budenholzer.

Budenholzer has been named NBA Coach of the Year twice in his career and has an overall record of 484-317. The Suns will be his third spot as he previously spent time with the Milwaukee Bucks and Atlanta Hawks.

Budenholzer's most recent tenure came with the Bucks, where he led the franchise to a 271-120 record in five seasons. The team won the 2021 NBA championship, coincidentally against Phoenix, and had a 39-26 overall postseason record.

In that role with Milwaukee, he saw Giannis Antetokounmpo win two MVP awards and saw other players like Khris Middleton and Jrue Holiday play major roles on contending teams. In Phoenix, he will have a similar situation to handle.

The Suns boast the likes of Kevin Durant, Bradley Beal and Devin Booker and earned a 49-33 regular-season record. However, that only earned a No. 6 seed in a loaded Western Conference, and the team's season ended in the first round at the hands of the Minnesota Timberwolves.

That led to Frank Vogel being fired as the head coach after just a single season, and Phoenix will now look to the coach that defeated the Suns in that 2021 final to help the franchise reach its full potential.