NBA Trade Report: Devin Booker agrees to a record-breaking two-year, $145 million extension with the Phoenix Suns

The Phoenix Suns have been busy in the offseason, and in another piece of sound business, they have secured their star player Devin Booker for the foreseeable future by agreeing to a contract extension with the guard.

NBA insider and ESPN’s Shams Charania took to the social networking platform X (formerly Twitter) on Thursday, July 10 (Philippine Standard Time), to report that Booker has agreed to a two-year, $145 million maximum contract extension with the franchise through the 2029–30 season — the highest annual extension in NBA history.

“Phoenix Suns superstar Devin Booker has agreed to a two-year, $145 million maximum contract extension with the franchise through the 2029–30 season, the highest annual extension in NBA history, CAA’s Jessica Holtz and Melvin Booker told ESPN,” Charania posted.

BREAKING: Phoenix Suns superstar Devin Booker has agreed to a two-year, $145 million maximum contract extension with the franchise through the 2029-30 season, the highest annual extension salary in NBA history, CAA’s Jessica Holtz and Melvin Booker told ESPN. pic.twitter.com/A5U5VPlSgx

— Shams Charania (@ShamsCharania) July 10, 2025

The extension is a blockbuster, as Booker’s salary of $72.5 million per year surpasses that of Oklahoma City Thunder star and reigning NBA Most Valuable Player (MVP) Shai Gilgeous-Alexander, whose $285 million supermax extension gives him an annual salary of $71.25 million. The 28-year-old Booker will now earn approximately $316 million over five years in total.

The contract extension comes as no surprise, as Booker is the face of the franchise and their best player, as shown by his consistent performance. He has averaged at least 25 points per game in each of the past seven seasons, joining Milwaukee Bucks star Giannis Antetokounmpo as the only players to do so. Last season, Booker averaged 25.6 points, 4.1 rebounds, and a career-high 7.1 assists per game, despite the Suns having a disappointing campaign.

Selected 13th overall in the 2015 NBA Draft by Phoenix, Booker has spent his entire professional career with the Suns. He is already the franchise’s all-time leader in points scored and three-point field goals, while also ranking in or near the top five in games played, minutes, and points per game.

Additionally, he is a four-time NBA All-Star and was named to the All-NBA First Team in 2022. Booker has previously expressed his desire to be one of the “rare breed” of players who spend their entire careers with one franchise.

“I take pride in the community in Phoenix, the people that have supported me since I was 18 when things were ugly. And the people that are with us — we just fell short of accomplishing what we want. So I want to do it, and I want to do it here. That’s the responsibility of being a franchise player, and I wear that with honor. So it might not look the prettiest right now, but we’ve got to get it done, and I’m going to do it,” Booker said in March 2025.

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