Reports: Phoenix Suns will trade or waive Chris Paul

The Phoenix Suns have notified veteran point guard Chris Paulthat he will be traded or waived this offseason, according toChris Haynes of Bleacher Reportand Shams Charania of TheAthletic.

If the Suns can't find a trade partner, they will waive the38-year-old. If Paul is waived, Charania notes that Phoenix couldlook to re-sign him on a cheaper contract this summer.

Haynes adds that Paul has no plans toretire; he intends to play several more years and hopes to join achampionship contender.

Paul is set to earn $30,800,000 next season, but only$15,800,000 of his 2023-24 salary is guaranteed. And none of Paul's$30,800,000 salary in 2024-25 is guaranteed. That opens the doorfor Phoenix to potentially waive Paul and save a significant amountof money.

The Suns shopped Paul prior to this pastNBA trade deadline, but they ultimately didn't pull the trigger ona deal. At one point, Phoenix reportedly offered Paul, JaeCrowder and a first-round pick for Kyrie Irving, but the BrooklynNets ultimately chose the Dallas Mavericks' package for Irvinginstead.

This season, Paul played in 59 games, averaging 13.9 points, 8.9assists, 4.3 rebounds, 1.7 threes and 1.5 steals, while shooting44.0% from the field, 37.5% from three and 83.1% from thefree-throw line.

If Paul is waived, possible destinations include the Los AngelesLakers (where he'd finally get a chance to play with his closefriend LeBron James), Miami Heat, Philadelphia 76ers and MilwaukeeBucks among other contenders.