It seemed fitting that when the Phoenix Suns announced the signing of Kevin Johnson to a new contract, the news conference was held at a bank.
Johnson, the NBA's Most Improved Player last season, signed a new seven-year pact Thursday that reportedly will make him one of the league's highest-paid guards at more than $15 million.The 23-year-old Johnson had two more years plus an option remaining on his old contract that paid him $532,000 last season and was to pay him $550,000 in 1989-90.
Leonard Armato, the agent for Johnson, said his client will earn "well more than a million" dollars next season and the total package is "in the $15 million range . . . a little more than that."
Suns president Jerry Colangelo said Johnson's deal is "by far" the longest and largest contract ever given to a Suns' player.
"Our commitment was to sign Kevin Johnson to a long-term contract commensurate with the top players in the NBA because he is one of them," Colangelo said.
"There's only one incentive in his contract - for winning an NBA championship. That's the only thing we have not obtained. I want it very badly and he wants it very badly."
The 6-foot-2, 188-pound Johnson, obtained in a Feb. 25, 1988 trade with Cleveland, helped lead Phoenix to a 55-27 record last season - second-best in club history.
The Suns made the playoffs for the first time in five years and reached the Western Conference finals.