How much will Chris Paul get if he signs a veteran minimum on his next team? Understanding aftermath of CP3 being waived by Suns

When news broke out that the Phoenix Suns decided to waive Chris Paul, many believed that a veteran contract could be signed by a team on a veteran minimum. Although the decision isn't final, the possibility of Paul joining a different team could come to fruition.

If the Suns push through in waiving the 12-time All-Star, he will only get a guaranteed $15.8 million. This will be coming from the $30.8 million that he's set to earn in the 2023-24 season. The remaining $15 million will probably be used by the team to sign valuable players to address their depth issue.

Other teams who could show interest in Paul could offer him a veteran minimum deal, which could go up to $2.6 million for a season. It also depends on how long a player has served in the league. Given that CP3 has been in the league for 18 seasons, there's a chance he'll get the $2.6 million veteran offer from other teams.

Blake Griffin, the former teammate of the 2005-06 Rookie of the Year, signed a one-year deal with the Boston Celtics worth $2.9 million. Based on that, there's a chance that Paul could sign a one-year deal that's worth more than $2.9 million.

You might also be interested in reading: “Got roasted by his kid's friends and now this” – Chris Paul waived by Suns had NBA fans roasting him

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The Suns are still exploring multiple options for Chris Paul's future

San Antonio Spurs v Phoenix Suns

Chris Paul's future with the team isn't final and both sides have reportedly been exploring multiple options. According to reports, the Suns are willing to either trade, extend the contract, or waive and re-sign Paul in the offseason. Phoenix knows the value that the future Hall of Fame player has and will try their best to get the most out of the situation.

If the Suns decide to let him walk away for nothing, there's a chance that other contending teams will try and pursue him. Teams like the LA Lakers and Boston Celtics have already emerged as possible landing spots for the veteran guard and could boost their chances in the postseason.

However, new developments in the situation have revealed that Paul isn't fully invested in leaving Phoenix. According to ESPN's Adrian Wojnarowski, CP3 would still prefer to play alongside Devin Booker and Kevin Durant. With this, the chances of him returning could increase.

The Suns have until June 28 to make a decision. Until then, his future with the team is up in the air. With a new head coach, Phoenix is looking to take advantage of having two all-time great scorers in one team. Plus, with the addition of the $15 million that Paul will be leaving with the team, there's a huge chance they could strengthen their depth.