The basketball world stopped tonight. Devin Booker just signed the richest annual contract in NBA history, and it happened in a Las Vegas hotel room during Summer League. This isn’t just another max deal – this is the moment the Phoenix Suns bet their entire future on their homegrown superstar, and Booker answered by making NBA salary history.
How Does Devin Booker’s $72.5 Million Annual Average Change NBA Contracts Forever?
This is a historic extension in terms of its annual value, as Booker has signed a two-year $145 million extension. The average annual salary of $72.5 million is reportedly the biggest annual extension average in history.
The numbers tell the story of how quickly NBA salaries are exploding. This deal tops Shai Gilgeous-Alexander’s per-year average of $71.25 million on the MVP’s recent four-year $285 million extension. Booker’s contract will now serve as the new benchmark for future contracts for franchise-level players in the league, as the salary cap continues to increase. Expect similar annual salaries moving forward as other superstars reset the market.
Booker and owner Mat Ishbia met in Las Vegas tonight to finalize the contract, which cements Booker’s commitment to the Suns vision for the future and him as the franchise’s leader moving forward. Booker now has five years and $316 million total on his Suns deal. https://t.co/1c8dlzY4Mz
— Shams Charania (@ShamsCharania) July 10, 2025
According to NBA insider Shams Charania, Booker and Suns owner Mat Ishbia met in Las Vegas, where the NBA Summer League is held, to finalize the contract. Charania reports that this cements Booker’s commitment to the Suns’ vision, establishing him as their franchise leader moving forward. Booker now has five years and $316 million left on his deal.
What Does This Extension Mean for the Suns’ Championship Window?
Booker’s commitment to the Suns proves his loyalty to the franchise that drafted him. This move will excite Suns fans, as the impact he has on the community in Phoenix cannot be measured. Reading the tea leaves, this seemed like the inevitable conclusion: Booker reportedly consulted on their coaching search, and the Suns decided on Jordan Ott after Booker’s endorsement.
Now they embark on a new era after trading Kevin Durant earlier this offseason to the Houston Rockets in a return package headlined by Jalen Green, forming an explosive new backcourt.
They also drafted highly-rated South Sudanese center Khaman Maluach 10th overall in the NBA draft, as their vision of rebuilding their roster around Booker continues to take shape. This vision likely doesn’t include Bradley Beal, as they appear ready to buy him out.
The timing of this extension shows how serious both sides are about building something special. Booker has been remarkably consistent in his NBA career as a Sun, with eight consecutive seasons of at least 24 points per game. His 25.6 points per game this past year sat in the top 10 in the NBA. Booker isn’t even 29 years old, and he’s already their all-time leading scorer. The Suns have rewarded his loyalty, and Booker’s contract now runs through the 2029-30 season.
