The Phoenix Suns are ensuring that Grayson Allen is wearing purple and orange for a couple more seasons, as the team signed the shooting guard to a four-year, $70 million extension, his agents confirmed to ESPN. Allen was set to become an unrestricted free agent at the end of this season, where he no doubt would’ve garnered plenty of attention from other teams after having a career year with the Suns.

Not only did Allen average a career high 13.5 points during the regular season, he also shot 46.1% from 3-point range, which led the NBA. His shooting has been essential on a Suns team that doesn’t have a ton of depth, and on multiple occasions his shots from deep helped carry Phoenix in games, especially when Bradley Beal missed time due to injuries. 

While keeping Allen in Phoenix is important for their current success, it won’t come without some complications down the line, primarily on the financial side of things. The Suns were already a luxury-tax team this season with Kevin Durant, Devin Booker and Beal consuming a majority of the cap space in Phoenix, which is part of the reason why they lack depth, but paying Allen a sizable amount will push them even further into the luxury tax for next season. 

New owner Mat Ishbia has already shown that he has no issue spending money, even if the tax penalties are hefty, but the Suns will have to show that all this money being spent will be worth it. 

So far, the Suns have had an underwhelming season, finishing sixth in the Western Conference, and while they could certainly go on a run in the postseason as they face the Minnesota Timberwolves in the first round, their lack of depth is a concerning factor. Injuries have played a role in Phoenix’s roller coaster of a season, and they did finish the regular season just one win shy of a 50-win season, but they haven’t been as dominant as they were through stretches of last season and especially two seasons ago when they finished first in the Western Conference. 

Regardless of how this season ends for the Suns, this is a solid deal for Allen who proved himself to be an important piece in Phoenix. As the Suns prepare for the Timberwolves, they’ll need Allen’s hot shooting to pull off an upset against Minnesota, otherwise it’ll be back to the drawing board for next season.