4-year, $48 million deal! Gillespie stays with Phoenix, breaks team record with 232 threes.

On June 21 Beijing time, according to Shams, free agent guard Colin Gillespie is set to sign a four-year, $48 million contract to return to the Phoenix Suns. After going undrafted in 2022, he held a two-way contract for three straight years, and now receives a generous long-term standard contract. This long-term deal is the best reward for his breakout performance in the 2025-26 season and marks his solid establishment in the league.

Gillespie went undrafted in the 2022 NBA Draft. He then spent three seasons on two-way contracts, constantly moving between the NBA and the G League with limited minutes and pay. Last season marked a breakthrough: he played 80 regular-season games for Phoenix (58 starts), averaging 28.5 minutes, 12.7 points, 4.1 rebounds, 4.6 assists, and 1.2 steals. His shooting splits were 41.8% FG, 40.1% 3PT, and 87.4% FT, reflecting well-rounded offensive performance.

Three-point shooting is Gillespie's primary weapon. During the 2025-26 season, he knocked down 232 threes, a franchise record for the Suns, on 7.2 attempts per game, establishing himself as one of the team's most reliable perimeter threats. He also has solid ball-handling and playmaking ability—able to pair with Booker in the backcourt or run the offense solo. His 4.6 assists per game against only 1.6 turnovers demonstrate a control that far exceeds typical backup guards. On defense, he is tenacious; at 1.85m, he is rarely exploited as a weak point, frequently stealing balls and breaking up opponent passes.

This past season, the Suns were hit hard by injuries, with multiple starters missing time. Gillespie answered the call by stepping into the starting lineup frequently, providing steady output to hold down the backcourt and help the team maintain a playoff position.

For Gillespie, this deal represents a perfect comeback story for an undrafted player. He was earning a minimum salary before; now his compensation has increased several times over, and he no longer has contract concerns for the next four years. For the Suns, this signing retains a valuable role guard, maintaining the team's outside shooting and bench depth in the offensive system, and fortifying the backcourt foundation as they aim for the playoffs and beyond next season.