Collin Gillespie is expected to sign a four-year, $48 million deal to stay with the Phoenix Suns, according to multiple reports, turning his breakout 2025-26 campaign into long-term security after years spent fighting for a roster spot. The former Villanova guard’s rise from end-of-bench insurance to trusted rotation piece featured a franchise-record barrage of made 3-pointers, a key reason Phoenix is reportedly determined to keep him in the Valley.
Per reports, ESPN insider Shams Charania was first to flag the agreement, with local outlet Arizona's Family echoing the same terms. Arizona's Family reports the contract is set at four years and roughly $48 million in total. Coverage so far describes the move as an intention to sign, since the paperwork and an official team announcement were not yet available when the reports surfaced.
From two-way status to franchise history
Gillespie went undrafted in 2022 and opened his pro career on two-way contracts, first with the Denver Nuggets and later within the Suns’ system, gradually earning a larger role, according to Wikipedia. His 2025-26 breakout, which included setting the Suns’ single-season record for made 3-pointers, is detailed in the team’s official notes; the NBA game notes state that Gillespie established the franchise mark for made threes during that campaign. That shooting binge, along with season-high performances in points and assists, pushed him from two-way depth option to clear priority on Phoenix’s free-agent checklist.
Cap picture and what this buy-in means
Because Gillespie’s earlier contracts were a mix of two-way deals and a one-year standard agreement, the Suns hold early-bird rights that allow a multi-year offer at this level without dipping into certain midlevel exceptions, a structure described in recent cap breakdowns. Sports Illustrated has outlined how those early-bird rights can support four-year offers for surprise risers, and contract databases list Gillespie’s 2025-26 salary in roughly the veteran-minimum range, making a $48 million guarantee a massive jump in earnings (per Spotrac). The Suns will still have to juggle other in-house free agents and keep an eye on luxury-tax lines as the front office locks in the rest of the roster.
If this agreement is finalized, the deal would keep one of Phoenix’s more unexpected contributors in the rotation for the foreseeable future and give Gillespie the long-term security that once looked like a long shot. An official confirmation from the Suns or the league is expected once the contract details are processed and formally approved.
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