The Phoenix Suns rewarded their franchise player with a massive contract extension on Wednesday.

Per ESPN’s Shams Charania, Booker agreed to a two-year, $145 million extension with the Suns. The deal is the highest annual extension salary in NBA history.

Heading into the 2025-26 season, the Suns are $90.7 million over the salary cap, $23.4 million over the first apron and $11.5 million over the second apron, per Spotrac.

Booker’s current contract will pay him $171.2 million over the next three years, and his new deal will begin in 2028-29.

Booker, still just 28 years old, helped lead the Suns out of a rebuild and to their first Finals appearance in nearly 30 years in 2021. Through coach firings and several major roster changes, Booker has been a mainstay of the organization for the last decade.

He’s emerged as one of the best scorers in the league year in and year out while remaining extremely durable, playing 60 or more games in eight of his 10 seasons. Last year, Booker put up 25.6 points, 4.1 rebounds and a career-high 7.1 assists per game.

While Booker and the Suns ultimately got a deal done, the team was “bullish” on moving forward with the contract, per The Athletic’s John Hollinger. Phoenix perhaps wanted to evaluate what direction it wanted to move in, but it seems the Suns landed on a future built around Booker.

The Suns have had an interesting offseason and will look like a new team next season. They traded Kevin Durant to the Houston Rockets and got Jalen Green and Dillon Brooks in return. Phoenix reportedly is potentially moving on from Bradley Beal via a contract buyout as well.

On top of a changing roster, the Suns will have a new coach for the 2025-26 campaign in Jordan Ott, the eighth different head coach Booker has had since he was drafted in 2015.

Devin Booker landed another bag.

The Phoenix Suns superstar signed a two-year, $145 million max extension with the team on Wednesday, according to Shams Charania of ESPN, keeping him under contract through the 2029-30 season.

Booker’s loyalty to the franchise, even in an offseason of roster turnover, was not lost on fans and pundits:

About the only certainty in Phoenix at this point is Booker.

Kevin Durant was traded this offseason. Bradley Beal seems likely to depart on a buyout. The Suns made a number of curious offseason moves, including drafting Duke center Khaman Maluach and then shortly thereafter trading for center Mark Williams. Either move alone would have been perfectly justifiable, but the two in conjunction was a bit odd—especially with Nick Richards already on the roster.

The Suns now have a roster with three centers who need game time, four shooting guards who will all be in the rotation (Booker, Jalen Green, Dillon Brooks, Grayson Allen), no legitimate starting options at point guard and Royce O’Neale and Ryan Dunn at forward.

It’s an odd blend, to say the least.

It’s pretty clear at this point, however, that Booker wants to remain with the Suns for the long haul, and it’s just as clear that Phoenix is willing to keep giving him an absolute bag to stick around. Whether that is ultimately conducive to winning titles remains to be seen, but Booker wouldn’t be the first star to stay loyal to the franchise that drafted him.

Devin Booker Inks Historic Deal with the Suns

Devin Booker just made a splash—pun intended—by signing a contract extension that’ll have his name remembered in Phoenix Suns lore for years to come. At 28, Booker has become not only a cornerstone for the Suns but also a standout figure in the NBA. Closing the 2024-25 season with averages of 25.6 points, 4.1 boards, and 7.1 dimes a game, his shooting was nothing short of solid, hitting 46.1% from the field and 33.2% from beyond the arc over 75 games. Those ain’t numbers you sneeze at, especially when you consider the consistency he’s shown season over season.

One-For-the-Books Extension

In a move that’s sure to shake up the league’s financial scene, Booker agreed to a jaw-dropping two-year, $145 million maximum contract extension. I can’t help but think: How’s that for a payday? This deal locks him down with the Suns through the 2029-30 season and sets a new league record for the highest annual salary. It’s like when LeBron decided to take his talents to South Beach—everyone notices. Shams Charania of ESPN was the first to break the news, giving us all the juicy details and underscoring just how monumental this commitment is for both Booker and the Suns.

Impact Beyond the Court

I’ve always felt that Booker’s contributions extend well beyond his stat lines—and it seems others agree. Shane Young, a respected voice in sports commentary, highlighted the importance of compensating players who elevate both their team and their community. “You ALWAYS pay your guys,” he said, emphasizing that Booker’s community involvement often flies under the radar. It’s a sentiment that echoes the priorities of Suns owner Mat Ishbia, who’s been all about community engagement since taking over in 2023. You’ve got to admire Booker’s alignment with Ishbia’s vision—it’s not just about basketball, but about building something lasting in the community.

Financial Forecasts and Speculations

But let’s be honest here, nothing’s certain in the NBA—especially with money matters. Some analysts suggest there might be slight adjustments due to market shifts. Keith Smith, a seasoned analyst, noted projections indicating a slower salary cap growth than expected. This might mean the headline figures for Booker’s deal could change. But hey, that’s just part of the NBA’s unpredictable charm, wouldn’t ya say?

A New Era in Player Compensation

Booker’s record-setting deal overshadowed Shai Gilgeous-Alexander’s recent salary coup, illustrating the fast-paced evolution in how NBA stars are valued. I mean, it was just eight days—a blink in basketball time—between these deals. ESPN’s SportsCenter wasted no time highlighting this, noting that Booker’s average yearly pay now outranks some entire team payrolls. Crazy, right? But it’s a clear signpost of today’s NBA economics.

Looking ahead, Booker’s extension is more than just a big figure. It’s a symbol of Phoenix’s commitment to maintaining competitiveness and nurturing talent that thrives both on the hardwood and in the community. As any true fan knows, it’s these kinds of investments that often pay the biggest dividends—not just in wins, but in legacy.

Devin Booker just broke the distinction of the highest annual extension salary in the history of the league.

The Phoenix Suns star Devin Booker has reportedly agreed to sign a two-year contract extension with the franchise worth $145 million. The deal will keep him with the Suns through the NBA 2029-30 season. Not only this, but the deal gives Booker the distinction of the highest annual extension salary in the history of the league, surpassing the $285 million extension of OKC Thunder’s Shai Gilgeous-Alexander over five years.

In addition to it, the deal brings Booker’s current contract value to $316 million for five years and under an annual average of $63.2 million. According to ESPN’s Shams Charania, “Booker and owner Mat Ishbia met in Las Vegas tonight to finalize the contract, which cements Booker’s commitment to the Suns vision for the future and him as the franchise’s leader moving forward.” He added, “Booker now has five years and $316 million total on his Suns deal.”

BREAKING: Phoenix Suns superstar Devin Booker has agreed to a two-year, $145 million maximum contract extension with the franchise through the 2029-30 season, the highest annual extension salary in NBA history, CAA’s Jessica Holtz and Melvin Booker told ESPN. pic.twitter.com/A5U5VPlSgx — Shams Charania (@ShamsCharania) July 10, 2025

How Much Money Will Devin Booker Earn?

Booker, 28, recorded an average of 25.6 points, 4.1 rebounds, and 7.1 assists per game in the 2024-25 season. He was shooting 46.1% from the field and 33.2% from the three-point arc. The four-time NBA All-Star previously signed a four-year extension worth $220 million with the Suns, and the forthcoming season will be the second year of the deal. It means that he has $171 million left on the deal.

The deal will pay him $53 million in the next season, $57 million in the 2026-27 season, and $61 million in 2027-28 before the latest deal takes over. Talking about his career in the NBA, Booker was drafted in the NBA as the overall No. 13 pick in 2015 by the Suns. Since then, he has been associated with Phoenix and holds the franchise record for career points at 16, 452 and three-pointers 1,424.

The Suns finished the previous season in the 11th spot in the West with a win-loss tally of 36-46. They will head into the upcoming season without their superstar Kevin Durant, but with an aim to do better.

Devin Booker has agreed to a two-year, $145 million contract extension with the Phoenix Suns that will run through the 2029-30 season. The deal is the highest annual extension in NBA history.

Booker and Suns owner Mat Ishbia met Wednesday night in Las Vegas to finalize the contract that was long anticipated. Booker has been committed to the Suns despite their disappointing outcomes the past few seasons. Booker led the Suns to the Finals in 2021 before losing to the Milwaukee Bucks in six games.

Booker now has $316 million over five seasons on his contract and will carry a $71.25 million annual average value that is the richest in NBA history.

Booker is a two-time All-NBA selection and two-time Olympic gold medalist. Booker participated in the Suns’ coaching search and has expressed a desire to remain with the franchise for his entire career.

Booker will be ineligible for a trade for six months following his extension.