Devin Booker signs the most expensive extension in NBA history!

Devin Booker has just secured the most lucrative extension contract in NBA history. The Phoenix Suns star has signed a 2-year, $145 million extension that ties him to the franchise through the 2029-2030 season, according to information reported by Shams Charania of ESPN.

BREAKING: Phoenix Suns superstar Devin Booker has agreed to a two-year, $145 million maximum contract extension with the franchise through the 2029-30 season, the highest annual extension salary in NBA history, CAA’s Jessica Holtz and Melvin Booker told ESPN. pic.twitter.com/A5U5VPlSgx

— Shams Charania (@ShamsCharania) July 10, 2025

This extension represents an annual salary of $72.5 million, surpassing the previous record held by Shai Gilgeous-Alexander of the Oklahoma City Thunder, who had signed a 4-year, $285 million contract with an annual average of $71.25 million.

A mutual commitment between Booker and Phoenix

Booker and Suns owner Mat Ishbia met Wednesday night in Las Vegas to finalize this historic contract. This signing cements Booker’s status as the organization’s leader and confirms his commitment to the franchise’s future vision.

Drafted 13th overall by Phoenix in 2015, Booker has spent all 10 of his NBA seasons with the Suns. He has publicly and privately expressed his desire to play his entire career in Phoenix and bring a championship to the franchise. Last season, he became the franchise’s all-time leading scorer.

Consistent performance despite team struggles

Despite the Suns missing the playoffs in 2024-2025 and the firing of coach Mike Budenholzer, Booker maintained an exceptional level of play. He averaged 25.6 points, 7.1 assists, and 4.1 rebounds per game, shooting 46.1% from the field and 33.2% from 3-point range.

This extension comes after a restructuring season for Phoenix, notably marked by Kevin Durant’s trade to Houston in exchange for Jalen Green, Dillon Brooks, and five draft picks. Booker joins Giannis Antetokounmpo as the only NBA players to have averaged at least 25 points in each of the last seven seasons.

With this new contract, Booker now has 5 years and $316 million guaranteed with the Suns, confirming the mutual trust between the player and the organization for years to come.