After a torrid end-of-season run that saw them slip out of playoff contention, the Phoenix front office have declared a change was “needed”. Although the search for a new coach begins now, we take a look at how much is left on the Suns’ five-year Mike Budenholzer contract, and what they will be forced to pay after cutting ties.
Phoenix Suns Fire Coach Mike Budenholzer
After collecting just one win from their final 10 regular season games, the Phoenix Suns slipped down to 11th in the Western Conference and out of playoff contention.
From the end of March and leading into April, the Suns lost eight straight games by double-digit margins; the most consecutive losses by 10-plus points in franchise history.
It marks the first time in five years that Phoenix will not feature in the postseason, and given the franchise has the largest payroll in league history, the team are now changing coaches for the third season in a row.
“Competing at the highest level remains our goal, and we failed to meet expectations this season. Our fans deserve better. Change is needed,” the Suns said in a statement.
Suns owner Mat Ishbia — now two years into ownership — has flooded the franchise with the necessary capital and personnel to form a successful, playoff-level team. However, with this current set-up failing to produce results, a new coach will be shoehorned in before the start of next season, while roster changes are expected to take place with Devin Booker placed at the center of a new-look team.
After already entertaining trade talks for Kevin Durant in February, it is likely he will depart in the off-season, while discussions are also expected to take place over Bradley Beal’s future in Phoenix.
Booker’s importance can not be understated, with reports suggesting Budenholzer’s inability to connect with the four-time All Star trickled down to the rest of the locker room, and as such the roster relationship collapsed.
Mike Budenholzer Contract
2021 NBA-winning coach Mike Budenholzer signed a five-year, $50 million contract last year, and arrived with bundles of promise and genuine pedigree as a two-time Coach of the Year.
However, a day after the regular season ended and finishing the season below .500 for the first time since 2019-20, Budenholzer has been squeezed out in favor of yet another change in personnel at the Suns.
How Much Will Firing Mike Budenholzer Cost the Suns?
Just when it looked as if it would be an offseason focused on trimming a bloated payroll, firing Mike Budenholzer is likely to be expensive for the Suns.
With Budenholzer being fired just one year into his five-year contract, Phoenix still owes him $10 million per-year until 2029, or $40 million in total.
That is, as long as Budenholzer doesn’t take up another coaching job in the meantime.
It is also worth noting that the Suns are still dishing out for a slew of other fired coaches; notably Monty Williams in 2023 after structuring a $20 million buyout, and Frank Vogel who is still owed $24 million on his contract.
In total, the Suns are paying over $80 million to three coaches who are no longer employed by them.
