Devin Booker and the Phoenix Suns agreed to a two-year, $145 million maximum contract extension, locking the four-time All-Star through the 2029-30 season with the highest annual extension salary in NBA history. The deal, confirmed July 10, pays Booker $72.5 million per year and brings his total Suns commitment to five years and $316 million.
Highest Annual Payout in NBA Extension History
Booker’s $72.5 million average annual value eclipses the $71.25 million that Oklahoma City Thunder MVP Shai Gilgeous-Alexander carries on his four-year, $285 million supermax. Booker and Suns owner Mat Ishbia finalized the terms Wednesday night in Las Vegas, according to ESPN.
The extension is Booker’s third with Phoenix since the Suns drafted him 13th overall out of Kentucky in 2015. He has now signed deals worth a cumulative total exceeding $400 million across his career. Only Milwaukee’s Giannis Antetokounmpo has matched Booker’s streak of seven consecutive seasons averaging at least 25 points, according to ESPN Research.
The $72.5 million annual figure also reflects the NBA’s rapidly escalating salary cap, driven by the league’s new media rights agreements worth approximately $76 billion over 11 years. As cap space expands, max contract values climb in lockstep, and Booker’s deal may not hold the annual-salary record for long.
A Decade in Phoenix and Counting
Booker has played all 10 of his NBA seasons in Phoenix, a rarity in an era of frequent player movement. He became the franchise’s career scoring leader last season with 16,452 points and holds the team record for 3-pointers made with 1,424, per NBA.com.
His career scoring average of 24.4 points per game ranks third in Suns history behind only Kevin Durant and Charlie Scott. Booker led Phoenix to the 2021 NBA Finals — the franchise’s first championship-round appearance in nearly 30 years — before falling to the Bucks in six games. The following season, he guided the Suns to the Western Conference semifinals.
Last season, Booker added a career-high 7.1 assists alongside 25.6 points and 4.1 rebounds, his ninth straight campaign averaging 22 or more points. The 28-year-old also played a role in the Suns’ head coaching search, meeting with finalists and endorsing the hire of Jordan Ott, formerly a Cleveland Cavaliers assistant.
Booker has publicly and privately expressed his desire to spend his entire career in Phoenix and deliver the city its first NBA championship. If he plays out the full extension, he will have spent 15 seasons in the desert.
Devin Booker Extension Anchors the Suns Rebuild
The extension arrives after Phoenix posted a 36-46 record and finished 11th in the Western Conference despite carrying the highest payroll in NBA history. The Suns missed the playoffs entirely with a roster built around Booker, Durant, and Bradley Beal.
Owner Mat Ishbia responded with an aggressive offseason overhaul. Phoenix traded Durant to the Houston Rockets on July 6 in a historic seven-team deal, fired coach Mike Budenholzer after one season, replaced general manager James Jones with Brian Gregory, and hired Ott. The organization is also reportedly considering a buyout of Beal’s contract.
The Durant-Beal era produced just one playoff series win across two seasons. Phoenix acquired Durant in a blockbuster 2023 trade with Brooklyn and paired him with Beal, but the trio never developed consistent chemistry. Injuries limited all three stars at various points, and the defensive identity that carried the 2021 Finals run evaporated.
The Devin Booker extension signals that Phoenix is rebuilding around its cornerstone rather than tearing the roster to the studs. Booker’s commitment gives the front office a clear pillar as it retools the supporting cast with new coach Ott and recently acquired center Mark Williams from Charlotte.
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