Chris Paul’s tenure with the Phoenix Suns is over.
According to Bleacher Report’s Chris Haynes on Wednesday, the Suns have informed the star point guard that he will be waived this offseason.
Sources told Haynes that Paul — 38 years old — has no intention of retiring, and “plans to play several more years and is eager to help a team contend for a championship.”
A nine-time All-Star and eight-time All-NBA player, Paul was in the middle of a four-year $120 million contract with the Suns with a partially guaranteed contract of $15.8 million next season that would have risen to $30 million if he remained with the team after June 28.
Per Haynes, Paul will become one of the more sought after free agents in the NBA this summer, in what is widely considered to be a weak free agent class.
After acquiring Kevin Durant at the trade deadline, the Suns were considered an NBA title contender this year and the favorite to get out of the Western Conference. Instead, they lost to the Denver Nuggets in the second round in six games.
Paul suffered a left groin strain in Game 2 of that series and missed the remainder of the Suns’ playoff run.
Phoenix then fired Monty Williams as head coach and has since hired Frank Vogel as his replacement.