What happened: Devin Booker signed a two-year, $145 million extension in July 2025 with a player option for 2029-30. His scoring and shot creation would command interest, though his salary would complicate any return package.

Why it matters: The Bradley Beal trade and subsequent buyout showed how a massive contract can restrict Phoenix's flexibility and leverage. Booker's value remains substantial, but likely buyers would need enough matching salary and draft capital to complete a deal.

What to watch: Phoenix's next roster moves will show how strongly it prioritizes financial flexibility around Booker for 2026-27.