Mike Budenholzer Reportedly Owed $40M by Suns After Firing in 1st Year of Contract

Phoenix Suns governor Mat Ishbia remains unafraid to take big hits financially if he feels it's in the best interest of improving the organization.

Per ESPN's Brian Windhorst, Mike Budenholzer is still owed $40 million by the Suns after being fired on Monday following a 36-46 record in his first season as head coach.

Budenholzer was the third head coach for the Suns in the past three seasons. Monty Williams was dismissed in May 2023 following Phoenix's loss to the Denver Nuggets in the Western Conference semifinals.

Ishbia, whose purchase of the Suns was finalized in December 2022, inherited Williams from the franchise's previous ownership regime. Williams' firing came 10 months after he signed a multiyear extension.

The Suns hired Frank Vogel in June 2023 on a deal worth a reported $31 million over five years. He did lead the team to the playoffs with a 49-33 record in the regular season, but a first-round sweep at the hands of the Minnesota Timberwolves led to his firing.

Budenholzer, who was fired by the Milwaukee Bucks in May 2023, was brought in by the Suns on a five-year deal worth at least $50 million with the hope that he would improve the offense after they finished ninth in rating and 10th in points per game under the defensive-minded Vogel.

Things did not gel for Budenholzer in Phoenix, as the offense dropped to 10th in rating and 18th in points per game. There also appeared to be issues between the coach and star players at times.

Budenholzer and Kevin Durant were seen on camera having what appeared to be an argument during a March 4 game against the Los Angeles Clippers, though both men downplayed the situation afterward.

Per The Athletic's Doug Haller, Sam Amick and Fred Katz, Budenholzer and Devin Booker had a "contentious" relationship that also played a significant role in his firing.

There are many things for the Suns to figure out this summer, but chief among them is finding stability at head coach given their turnover since playing in the 2021 NBA Finals.

Budenholzer's firing, while certainly justified based on performance, speaks to part of a larger problem with the Suns that they will need to address in the coming months.