According to the report, Suns brass and Bledsoe’s representatives met over the weekend. Yahoo also reported a deal could be in place by the start of training camp.
The Minnesota Timberwolves also reportedly wanted to try to acquire Bledsoe via a sign-and-trade, but talks never got off the ground.
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Bledsoe averaged 17.7 points and 5.5 assists for the Suns in 43 games last season, missing time because of knee surgery and a shin bruise.
The team had made Bledsoe a $3.7 million qualifying offer over the offseason, and if he signs it, he would be become an unrestricted free agent after the season. The deadline to sign an extension is Oct. 1.
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