Restricted free-agent guard Eric Bledsoe has reached agreement on a five-year, $70 million contract extension with the Phoenix Suns, league sources told Yahoo Sports.
The deal will include no player options, and the $70 million will be fully guaranteed, a source said.
Bledsoe and his agent Rich Paul arrived in Phoenix on Wednesday to meet with Suns management and try to clear the final hurdles toward a new contract, league sources told Yahoo Sports.
Communication between Bledsoe and the Suns has been non-existent through a summer stalemate in extension talks and Wednesday's visit with Suns executives was a significant development in the final thawing needed to close on a new deal.
Bledsoe hadn't been back in Phoenix since the Suns' season ended in April.
That's quite an expensive logjam at point guard. One assumes that Hornacek will be mixing things up with some small ball this season.