The Phoenix Suns and restricted free agent Eric Bledsoe reportedly are making progress on a new contract. The Minnesota Timberwolves' purported offer for Bledsoe, however, makes it highly unlikely he would sign for anything less than a maximum deal.
Phoenix, seemingly with their backs against the wall, reportedly contacted Bledsoe's camp to discuss a new contract.
"Phoenix, Eric Bledsoe have made progress on a new contract in past 48-72 hours, sources tell Yahoo," Adrian Wojnarowski of Yahoo Sports tweeted Tuesday night. "No deal yet, but significant momentum."
At this point, the Suns don't really have another option except to hope Bledsoe compromises on a deal. Phoenix purportedly offered a four-year deal worth $48 million to him and had since refused to budge from that number. But Minnesota's supposed willingness to give Bledsoe a max deal changes things: It tells Bledsoe there is a market for him next year, if he becomes an unrestricted free agent.
He has until Oct. 1 to sign his qualifying offer. Once that happens, Bledsoe is on his way to unrestricted free agency in July. Teams know this and won't give Phoenix anything worthwhile when they can wait to get Bledsoe for free in the summer.
Trading Bledsoe wouldn't net Phoenix anything close to the point guard's worth, and if he signs his qualifying offer Phoenix would get nothing when he walks after the season. That leads to Wojnarowski's report about the team seemingly backpedalling on their original offer and trying to meet Bledsoe somewhere in the middle of the purported max deal he wants.
It could be too little too late for Phoenix, though. As aforementioned, Minnesota seemingly leaking their willingness to pay Bledsoe puts the Suns into a corner; the Suns are unlikely to offer Bledsoe a max deal, especially if they want to re-sign guard Goran Dragic in the summer too.
Bledsoe has all the leverage. He knows he can get paid now, and unless he has a strong desire to play in Phoenix, he has no reason to accept anything less than a maximum deal.
