Suns Make NBA Spending History

The Phoenix Suns have spent more than any other team in league history.

Apr 12, 2024; Sacramento, California, USA; Phoenix Suns guard Grayson Allen (8) and guard Devin Booker (1) and guard Bradley Beal (3) and forward Royce O'Neale (00) and forward Kevin Durant (35) huddle up before the final seconds of the fourth quarter at Golden 1 Center. Mandatory Credit: Ed Szczepanski-USA TODAY Sports | Ed Szczepanski-USA TODAY Sports

PHOENIX -- The Phoenix Suns are breaking records this season.

While we wait to see if that extends to a franchise-first NBA championship parade remains to be seen (though owner Mat Ishbia certainly has upheld his end of the pay-to-play approach), the Suns are spending more than any team in NBA history.

According to ESPN's Bobby Marks, Phoenix is the first $400 million team in payroll thanks to their $223 million in salary with a projected luxury tax bill of $198 million in extra penalties.

Record breaking numbers in Phoenix

The Suns are the first $400M team in payroll

Salaries: $223M

Projected tax: $198M

The Okogie signing is smart and gives Phoenix a $8M trade asset to use during the season.

Because of the rules of the 2nd apron, his salary cannot be… https://t.co/ryY70GvQqX

— Bobby Marks (@BobbyMarks42) July 12, 2024

It was the signing of Josh Okogie on a two-year, $16 million deal that ultimately pushed the Suns to history.

As Marks highlights, the Suns were smart to sign Okogie to such a high salary so they can utilize him in potential trade talks down the line if necessary (since the Suns are in the second apron of the luxury tax, they can't aggregate player salaries in trades).

Phoenix is paying their "big three" of Kevin Durant ($51.1 million), Devin Booker ($49.2) and Bradley Beal ($50.2 million) roughly $150 million this season, which already exceeds the NBA's salary cap of $140.58 million.

Other players with cap hits over $5 million are Jusuf Nurkic ($18.1 million), Grayson Allen ($15.6 million), Royce O'Neale ($9.8 million), Josh Okogie ($7.6 million), and Nassir Little ($6.7 million).

The Suns are $45.4 million over the first apron of the luxury tax while being another $34.6 million into the second apron.

According to Spotrac, the Suns are one of eight teams in the second apron of the luxury tax, being followed by the Minnesota Timberwolves, Boston Celtics, Milwaukee Bucks, Los Angeles Lakers, Miami Heat, Denver Nuggets and Philadelphia 76ers.

Phoenix fired Frank Vogel after one season at the helm and replaced him with Mike Budenholzer - who hopes to improve the team's 49 regular season wins with further success in the postseason compared to 2023-24.

The Suns wanted continuity, and they sure got it - although it comes at a massive price.

We'll learn next June if that price tag was worth it.