Report: Suns expected to waive Chris Paul

The Phoenix Suns have notified point guard Chris Paul that they plan to waive him ahead of this offseason, sources told Bleacher Report's Chris Haynes.

The 38-year-old has spent the last three seasons in Phoenix, making two of his 12 career All-Star Games with the club.

A 17-year NBA veteran, Paul has shown significant signs of decline in recent seasons and averaged a career-low 13.9 points per game in 2022-23. He struggled immensely in this year's playoffs, averaging just 12.4 points while shooting 41.8% in seven games before getting injured.

One of the league's greatest floor generals, Paul's playmaking is still among the league's best. He ranked in the top five in assists per game in all but two of his career campaigns. He also ranks third all-time in total assists, just over 4,000 away from John Stockton's top mark.

By waiving Paul, the Suns are able to offload just under $15 million of his $30 million owed next season, the final year of his contract. The move would make him an unrestricted free agent this summer.

In the event Phoenix chooses not to waive Paul, the team is also exploring trade opportunities that could include big man Deandre Ayton, sources told ESPN's Adrian Wojnarowski.

Phoenix does remain eligible to re-sign Paul on a cheaper deal so long as the team doesn't stretch his owed money to save cap space.

Despite his decline and age, Haynes adds that Paul reportedly plans to play in the league for several more seasons and contend for a title. While Paul boasts a list of accolades, he has never won a championship in his career.

Should Paul depart, the Suns would enter year one of the Frank Vogel era without a starting point guard and with limited cap space due to the large contracts owed to superstars Kevin Durant and Devin Booker.