Phoenix Suns: Close To Reaching Deal With Eric Bledsoe?

The 2015 free agency class may have just gotten a little bit weaker.

With Media Day and training camp approaching in less than a week, tensions were reaching an all-time high between restricted free agent Eric Bledsoe and the Phoenix Suns. But according to Yahoo! Sports’ Adrian Wojnarowski, that tension may have finally snapped both sides into action in the form of a compromise:

As a restricted free agent who averaged 17.7 points, 5.5 assists, 4.7 rebounds and 1.6 steals per game, Bledsoe was eligible for, and more than deserving of, a nice contract extension this summer. But when no other team with the available cap space made him an offer, instead opting to wait and see what bigger names like LeBron James, Carmelo Anthony and Chris Bosh would do, the Suns used the higher negotiating ground to their advantage.

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Unfortunately, Phoenix’s respectable four-year, $48 million offer didn’t sit too well with Rich Paul — Bledsoe’s agent — who was coming off a big summer victory with another client of his, LeBron James. Paul countered with a five-year, $84 million max contract and the two sides had been in a blinking contest ever since. That is, until now.

According to Woj, the Suns have extended their initial offer into the $50 million range.

To be clear, the kind of max-level dough Bledsoe’s agent was asking for would’ve been a huge risk for the Suns. After all, this is a player who only played 43 games last season because of his second meniscus injury in the last three seasons. It’s no wonder the Suns were unwilling to back down, especially since no one else seemed willing to take a chance on Bledsoe and make him a max offer (which the Suns also would’ve been able to match).

But this news is a huge breakthrough for droves of Suns fans and front office personnel who were rightfully concerned about Bledsoe’s long-term future in Phoenix. If the two sides couldn’t come to an agreement, Bledsoe’s most prevalent option would have been playing the 2014-15 season on the Suns’ $3.7 million qualifying offer, making him an unrestricted free agent next summer.

With the Oct. 1 deadline for that qualifying offer rapidly approaching, each passing day brought Bledsoe and the Suns closer to an uncomfortable situation for both sides. For the Suns, Bledsoe playing on the qualifying offer would have almost certainly meant he was gone next summer — especially if he stayed healthy in 2014-15 and proved to the rest of the league that he was worthy of a max deal.

As for Bledsoe, there were plenty of reasons taking the qualifying offer was a bad idea, including that he would’ve been vastly underpaid for the 2014-15 season and if he were unable to stay on the court, he could have potentially killed his market value and left millions of dollars on the table.

Bledsoe and the Suns haven’t agreed to a deal just yet, but for Phoenix supporters, this is the best Wojbomb of the summer. Though Isaiah Thomas and Tyler Ennis provided Phoenix with insurance in the event Bledsoe was on the way out, Goran Dragic and Bledsoe were tremendous in the backcourt together last year and they led a surprising Suns team that was the seventh highest scoring offense in the league.

The Super Slash Brothers couldn’t get Phoenix to the playoffs, but the Suns won 48 games in a “tank year” and were the biggest pleasant surprise of the 2013-14 season. Coach Jeff Hornacek‘s offense is tailor-made for Bledsoe and Dragic’s complementary skills, and now that the Suns upgraded their backup point guard position with Thomas, Phoenix will be in hot pursuit of a playoff spot once again.

About a week ago, the Suns-Bledsoe dilemma had reached an all-time low with the Minnesota Timberwolves reportedly engaging Phoenix in sign-and-trade talks. Now, it seems last-minute compromise is the theme in Phoenix. Bledsoe could opt for a two-year max deal that will allow him to renegotiate his contract just in time for the NBA’s new TV deal and higher salary cap. He could also choose long-term security with a longer deal.

Either way, if a deal can be reached in the next few days, the league’s deepest backcourt might not have to play the entire 2014-15 season with tension in the air. After a summer-long contract fiasco, there couldn’t be a happier outcome for Eric Bledsoe, the Phoenix Suns, and the fans who should quickly put this offseason’s melodrama behind them if an agreement is reached.