Grayson Allen and the Suns agreed to a four-year, $70 million contract extension on Monday, keeping one of the NBA's top 3-point threats in Phoenix long-term.
Allen was scheduled to hit free agency in July, but the new deal secures the sharpshooter's future with the Suns following a regular season in which he led the league by making 46.1 percent of his 3s.
His agents at CAA confirmed the terms of the deal to ESPN on Monday morning.
Allen averaged 13.4 points per game in his first season with Phoenix and was a critical piece of the offense that needed to withstand extended periods of time without All-Stars Bradley Beal and Devin Booker due to injuries.
The 28-year-old Allen was acquired from the Bucks by the Suns in the offseason as part of the three-team deal that sent Damian Lillard to Milwaukee and Deandre Ayton to the Portland Trail Blazers.
Allen's salary of just over $15 million next season would put the Suns in the second level of luxury taxes, essentially costing the team more than $75 million in total payroll and NBA luxury taxes.
Allen was a first-round pick by Utah in 2018 and played for the Jazz (2018-19), Memphis Grizzlies (2019-21) and the Bucks (2021-23) before joining Phoenix.
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