Phoenix Suns guard Grayson Allen has signed a lucrative four-year, $70 million contract extension with a player option.

Allen led the NBA in 3-point field goal percentage at 46.1% during a standout season, averaging 13.5 points per game.

The Suns recognize Allen's dual role as an enforcer and sharpshooter, integral to their strategy.

The contract extension adds financial pressure, pushing the Suns further into luxury tax territory.

Despite a less than stellar season, finishing sixth in the Western Conference, the Suns are gearing up for the playoffs.

Allen has played for four teams over six years, but his new contract suggests a long-term commitment to the Phoenix Suns.

The team is facing fan concerns over fiscal sustainability but remains optimistic about managing their finances.