Reports: Phoenix Suns to release, move on from star Chris Paul after 3 seasons

Chris Paul’s time in Phoenix is apparently coming to an end.

The Suns are preparing to move on from the veteran point guard, according to multiple reports on Wednesday. Bleacher Report's Chris Haynes reported that the Suns were set to release Paul completely. The Athletic's Shams Charania reported that the franchise is working to "find a resolution," which could include a trade.

Paul, 38, averaged a career-low 13.9 points, 8.9 assists and 4.3 rebounds last season with the Suns. He helped them to the Western Conference semifinals this season, but they fell in that round to the Denver Nuggets. Since then, the Suns fired coach Monty Williams and replaced him with former Los Angeles Lakers coach Frank Vogel.

Paul had two years left on his four-year, $120 million deal. If he's waived before the June 28th deadline, only $15.8 million of the $30.8 million he's due to earn for the 2023-24 season ins guaranteed. The expectation, per ESPN's Adrian Wojnarowski, is that the Suns stretch and then waive Paul's contract to create more cap space over a longer term.

The 12-time All-Star and former Rookie of the Year is sure to be a high-profile free agent this summer even as he’s entering the final stage of his playing career. While he’s sure to be a Hall of Famer eventually, Paul has never won an NBA title. He got the Suns to the NBA Finals in his first season there, but they fell to the Milwaukee Bucks.

According to Haynes, Paul plans to play “several more years” in the league before retiring.

It’s unclear who will move to land the veteran point guard in the coming months, though there are sure to be plenty of teams interested assuming the Suns do in fact move on from Paul.