On Wednesday, it was revealed that the Suns plan to waive Paul ahead of the June 28 deadline when his $30.8 million contract for the 2023-24 season becomes fully guaranteed. Apparently, however, that isn't exactly right as what the team only did was inform him that there's a possibility of him getting released.
“I’m told that the Phoenix Suns and Chris Paul, his representatives, had a series of conversations today to start discussing his future in Phoenix, including the possibility that the organization could use the waive-and-stretch provision on his contract prior to the June 28 date to guarantee his contract. If he’s waived ahead of that date, the Suns only owe him $15 of the $30 million on his deal that creates some salary cap space over time. …” Woj said.
“The Suns have a lot of work to do between now and June 28. But they let Chris Paul know today is there is a possibility he could be waived. Right now, though, Phoenix would like a way to financially keep Chris Paul on this roster.”
It's worth noting that the Suns are also looking at their other options, including the possibility of trading Deandre Ayton in order to rebuild the team around the trio of Kevin Durant, Devin Booker and Chris Paul. The possibility of waiving Paul and signing him to a lower contract has also been floated as a potential move for Phoenix.
Reporting for NBA Countdown on the Suns beginning conversations with Chris Paul on his future with franchise pic.twitter.com/2DoOaRX3fV
— Adrian Wojnarowski (@wojespn) June 8, 2023
It remains to be seen what the Suns will do with Chris Paul, and we can't blame fans if they find all the reports confusing. Fortunately, Phoenix should be able to make a decision soon, especially with CP3 and his camp emphasizing to the team that they can't wait for long.