New NBA Rumors Reveal Collin Gillespie, Suns Contract, Updated Salary Cap Ahead of 2026 Free Agency

Following a breakout 2025-26 season, point guard Collin Gillespie will reportedly be back with the Phoenix Suns ahead of free agency.

According to ESPN's Shams Charania, Gillespie intends to sign a four-year contract worth $48 million with Phoenix.

His agents negotiated a deal with Suns executives after front offices became eligible to talk to their own free agents on Sunday, per Charania.

Phoenix is projected to be $4 million below the $200.5 million luxury tax line after signing Gillespie, via the Third Apron's Yossi Gozlan.

He was on track to hit unrestricted free agency this summer prior to the reported contract agreement.

Gillespie initially went undrafted in 2022 before signing a two-way contract with the Denver Nuggets. He didn't play during the 2022-23 season and wasn't able to carve out a consistent role in Denver's rotation throughout his 2023-24 campaign.

The former Villanova standout eventually signed another two-way deal with the Suns in 2024, but was also outside of their rotation to begin the following season.

Still, Gillespie showed promise towards the end of the 2024-25 year before establishing himself as a key piece of Phoenix's offense last season.

In 80 games during his 2025-26 campaign, he averaged a career-high 12.7 points, 4.6 assists, 4.1 rebounds and 1.2 steals per game while shooting 41.8 percent from the field.

Gillespie thrived from behind the arc, shooting 40.1 percent on three-pointers while taking 7.2 long-range shots per game. He ended the year with 232 triples, tied for the seventh-most among all players.

The Suns owned a plus-3.7 net rating with Gillespie on the floor in the regular season compared to a minus-2.2 net rating with him on the bench (via NBA.com).

As Phoenix looks to remain a playoff contender in the Western Conference moving forward, Gillespie reportedly won't be experiencing a change of scenery.