Suns sign Boris Diaw to 5-year extension - $45 million
Suns forward Boris Diaw reached an agreement on a 5-year contract extension worth an estimated $45 million. Signing Diaw was a priority for the Suns organization this offseason, and it appears that they've succeeded. Diaw is a versatile player that helped Phoenix earn a spot in the playoffs last year and reach the Western Conference Finals.
Diaw confirmed the agreement after the Suns beat Sacramento in a preseason game on Thursday night. He did not comment on the terms, but a source told The Associated Press it was worth $45 million.
"We didn't sign anything yet but we're going to make it tomorrow," Diaw said.
The Suns scheduled a 4 p.m. EDT news conference for Friday. The deal was finalized Thursday, according to a person with knowledge of the situation, who asked not to be identified because the team was not scheduled to officially announce the extension until Friday. The agreement will keep the 6-foot-8 forward under contract through the 2011-12 season. It was first reported by Phoenix radio station XTRA Sports late Thursday afternoon. After Saturday's preseason game against Sacramento, Diaw confirmed that a deal had been reached.
The 24-year-old Frenchman came to the Suns as part of the trade that sent Joe Johnson to Atlanta a year ago and responded with a standout season that earned him the NBA's Most Improved Player award. He moved into the starting lineup in place of injured Amare Stoudemire in the preseason and averaged 13.3 points, 6.9 rebounds and 6.2 assists in the regular season.
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This move will allow the Suns to keep their core of players together for a little while, but the salary cap will be an issue here in another year or so. One of the core will have to be traded away or Phoenix will be paying the luxury tax for every $1 over the cap they are. Ownership isn't likely to fork out that kind of money, especially if they don't win the championship this year.