Phoenix Suns and Bradley Beal are close to finalizing a historic buyout deal, with Beal agreeing to give back at least $14 million of his $110.8 million salary.
Phoenix Suns and Bradley Beal are close to finalizing a buyout agreement within the next 48 hours, according to John Gambadoro.
Bradley Beal
Bradley Beal
Team: Phoenix Suns
Position: SG
Age: 32
Height: 193 cm
Weight: 94 kg
Birth place: St. Louis, United States of America
Both sides have been actively negotiating terms for what is expected to be a historic buyout deal.
Once the buyout is official, the Suns will fall under the second luxury tax apron, allowing them to avoid luxury tax penalties and gain full access to the Mid-Level Exception (MLE).
The deal is considered historic because, as part of the agreement, Beal is expected to give back at least $14 million of his $110.8 million salary to Phoenix, according to Evan Sidery.
If the Suns choose to stretch Beal’s contract, they can completely avoid luxury tax payments and immediately use the full MLE to strengthen their roster.
Sidery also reports that once Beal officially becomes a free agent later this week, at least five teams are expected to show strong interest: the Milwaukee Bucks, Los Angeles Clippers, Miami Heat, Los Angeles Lakers, and Denver Nuggets.
Last season, Beal averaged 17.0 points, 3.3 rebounds, and 3.7 assists per game, shooting an efficient 49.7% from the field and 38.6% from beyond the arc.
Subscribe to BN+ and get access to exclusive content.