Phoenix, Arizona - The NBA's Phoenix Suns said Thursday they signed star guard Devin Booker to a multi-year contract extension, which ESPN reported was worth $145 million over two years.

The reported figures – with an annual extension salary of $72.5 million – would make it the largest annual average salary extension in league history.

And while the Suns didn't confirm the numbers, they were clearly delighted to have secured the four-time All-Star, a two-time Olympic gold medalist with the US who averaged more than 25 points per game in each of the past seven seasons.

"Devin Booker is the embodiment of the Phoenix Suns, representing the best of our organization, our community and our future," Suns owner Mat Ishbia said in a statement.

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ESPN reported the deal will keep Booker in Phoenix through the 2029-30 season, and in terms of annual salary eclipses the four-year, $285-million extension agreed by Oklahoma City Thunder star Shai Gilgeous-Alexander this week.

Booker has played all 10 of his NBA seasons for the Suns and last season became the team's all-time leader in total points scored.

He helped the Suns reach the NBA Finals in 2021, when they lost to the Milwaukee Bucks, and his continued presence will provide stability for a Phoenix franchise now in transition after a disappointing 2024-25 campaign.

The Suns had the highest payroll in NBA history after investing in Kevin Durant and Bradley Beal. But they missed the playoffs and fired coach Mike Budenholzer in April.

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Two-time NBA champion Durant has since been traded to the Houston Rockets as part of an unprecedented seven-team deal in which players obtained by Phoenix included 18-year-old South Sudanese rookie Khaman Maluach – the 10th overall draft pick in June – along with forward Dillon Brooks and guard Jalen Green from Houston.

In June, the Suns named 40-year-old Jordan Ott head coach, with Ishbia pointing to Ott's "track record of developing players (and) fostering team chemistry" in naming him to his first head coaching position.