After what was nothing short of a tremendous 2020-21 campaign for him, there is little doubt that Chris Paul is set to be the biggest name in free agency this summer. That is, of course, if the 11-time All-Star decides to turn down his Player Option with the Phoenix Suns for the coming season — something that is now looking unlikely.

According to Jake Fischer of Bleacher Report, the Suns are now closing in on a massive extension for Paul that is going to make his $90 million richer:

Chris Paul appears all but destined to return to Phoenix, sources said, on a deal that's now widely rumored to be for at least three years, $90 million.

It looks like CP3 will be turning down the $44.2 million he is owed next season in order to secure a more long-term deal with the Suns. With this new contract, Paul will be earning considerably less — roughly $30 million per year — but what is key here is that it guarantees him more money in the long run. The 36-year-old isn't getting any younger and this could very well be his last big-money deal.

It is worth noting, however, that there has been a ton of interest in Paul from around the league — and rightfully so. The Los Angeles Lakers have been linked to a swoop for Paul, while the New Orleans Pelicans have recently emerged as a possible destination for him in what could potentially be a sentimental return to the team that drafted him nearly two decades ago.

As it is, however, the Suns appear to be in pole position in the race to sign Chris Paul as they look to build on what was an outstanding run last term.