According to ESPN's Shams Charania on Wednesday, the Phoenix Suns have reached an agreement with Devin Booker on a two-year, $145 million maximum contract extension. The new contract will be extended to 2030 based on the original framework, with a total cumulative amount of $316 million.

Shams Charania went on to point out that the contract extension demonstrates the Suns' firm trust in Booker as a core player and leader. According to the original contract, Booker's annual salary will be $53.14 million, $57.08 million and $61.02 million starting next season. After the contract extension is completed, his annual salary of $72.5 million will set a record in NBA history.

Booker, 28, plays as a shooting guard and was selected by the Suns with the 13th pick in the first round in June 2015. So far, he has played 673 regular season games for the Suns, averaging 24.4 points, 4.0 rebounds and 5.2 assists per game, with a shooting percentage of 46.4% and a three-point shooting percentage of 35.4%.

In the playoffs, Booker has played 47 times in his career so far, averaging 28.0 points, 5.1 rebounds and 5.3 assists per game, shooting 48.6% from the field and 38.9% from three-point range. He was a key contributor to the Suns' run to the 2021 NBA Finals, but ultimately lost to the Milwaukee Bucks and finished second.

The Suns finished 11th in the Western Conference with 36 wins and 46 losses last season, missing the playoffs again after five years. Despite this, Booker played 75 games in the regular season, averaging 25.6 points, 4.1 rebounds and a career-high 7.1 assists per game. He was also crowned the Suns' all-time scoring leader last season, and averaged at least 25 points per game for seven consecutive seasons.