Earlier this month, speculation swirled on Chris Paul potentially being waived by the Phoenix Suns. It hasn't happened yet, but could it be because they're waiting on a potential trade before they pull the trigger?

The Suns are reported to be “actively engaged” in seeking a trade partner that wants Chris Paul with “multiple options” opening up about his future, according to The Athletic's Shams Charania. The Suns have until June 28th to find a deal before the deadline lapses on waiving his non-guaranteed deal for the next two seasons.

While Chris Paul can still eventually be waived, Shams emphasizes that it's not an “open-and-shut case” and that there is indeed interest for the 38-year-old's services.

The Suns point guard had a down year last season, averaging a career-low 13.9 points per game while missing a handful of games – including the team's final four postseason contests – due to injury. CP3 is no longer the dependable lead guard who can carry a team's playmaking opportunities.

But he still tallied 8.9 assists and 1.5 steals per game last season while also offering the usual floor general stability when he was able to take the court. He could very well be the missing piece for a team looking for some veteran playmaking to supplement the existing core players they already have.

There's no denying that several teams would be interested in a vacuum. What complicates matters is the $30.8 million non-guaranteed money he's owed next season which has to be matched salary-wise by whichever team is interested in trading for the Suns guard. There's also still the outside chance that CP3 returns to Phoenix after being waived. 

Chris Paul will certainly be one of the names to watch this offseason.