Report: Suns considering 'multiple options' with 12-time All-Star

Phoenix initially signed Paul to a four-year deal that could have been worth $120 million. The key phrase is "could have." The final year of the deal was non-guaranteed while 2023-24 only partially guaranteed for $15.8 million.

ESPN's Adrian Wojnarowski added there is a possibility the Suns waive Paul before his contract becomes guaranteed on June 28.

The Suns have decided that Paul is not worth the $15 million. While it's not a huge surprise, given that the franchise reportedly tried to trade Paul before the deadline, it is still unusual to see one of the NBA's 75 greatest players of all time see his future in flux.

The 38-year-old Paul was still productive last year, averaging 13.9 points and 8.9 assists, one year after leading the NBA in dishes. But he once again suffered an injury in the playoffs, leaving the Suns short-handed in their second-round loss to the Denver Nuggets.

With Kevin Durant turning 35 this fall, Phoenix may have decided they simply can't rely on two older, injury-prone players with huge contracts. It also means that they couldn't find a trade partner for Paul at his $30 million salary.

This opens up some financial flexibility for the Suns, who may also be looking to deal center Deandre Ayton. Moving Paul also gives them a chance to stay under the second luxury-tax apron, which comes with punitive penalties under the new collective bargaining agreement.

Could this mean the organization will try to pursue Kyrie Irving in a sign-and-trade with the Dallas Mavericks, to reunite Durant with his friend and former Brooklyn Nets teammate? If Dallas believes Ayton can anchor its defense behind Luka Doncic — and Irving decides he wants out — it could be a real possibility.

As for Paul, the future is uncertain for one of the best NBA players of all time who has yet to win a championship.