Liddell’s release is not too surprising, as the Suns had only signed him a few weeks ago as part of a pay cut for David Roddy and their roster was seemingly complete.
The Ohio State native missed his rookie season due to injury but played in eight games with New Orleans last season. He was traded to Atlanta in the Dejounte Murray trade in the offseason before being relocated to Phoenix.
He’s only 23 and had an incredibly impressive junior season before his injury (19.4 points, 2.6 blocks, 37% three-point shooting) and he played well in the G League last year (17.3 points per game), so he’s a candidate to take up residence elsewhere after being selected 41st overall in 2022.
Little’s release is a little more surprising, as he is due $22 million over the next three years and seemed like a candidate for a later trade for salary reasons. However, Charania notes that the Suns will extend his contract instead.
We wrote in July that waiving Little was a possibility, albeit a more shocking one. As Charania writes, the Suns wanted to free up a roster spot at the start of the season and create more flexibility for new signings or transfers.
The former first-round pick wasn’t a big part of Phoenix’s roster last season, averaging 3.4 points in 45 appearances. He was part of the Damian Lillard trade after spending the first four years of his career in Portland.
In 237 career games, Little averaged 5.5 points and 2.9 rebounds. Little was selected 25th overall in the 2019 draft, but is only 24 years old. It would not be surprising if he gets another guaranteed contract down the road.
In addition to creating more flexibility, Charania points out that the Suns are placing a lot of value on rookies Ryan Dunn and Oso Ighodaro, as both are now in prime position to get playing time immediately. Phoenix took Ryan Dunn with pick 28 and Ighodaro with pick 40 in 2024.
With Little and Liddell released, the Suns have 14 players on standard contracts and three players on two-way contracts, so their Opening Day roster appears largely set.
According to the stretch clause, and as John Hollinger of The Athletic noted, the Suns had until August 31 to release Little and extend his contract through 2030-31 without having to pay him his full $6.75 million salary this season. The extension will pay Little’s remaining salary over twice the number of years remaining on his contract, plus one year.
Since he has three years left on his contract, his money will be paid out over seven years (through 2030-31) and split evenly between each year. Since he owes $22 million on his contract, the money will be split over seven years, which is a loss of about $3.1 million per year.
Although saving just over $3 million may not seem worth it at first glance, the Suns drastically reduce their tax bill by trading Little. They are over $36 million above the second tax threshold, so any tax savings are worth it. By not trading Little, the Suns will save over $40 million in tax penalties over the next two seasons.
