Collin Gillespie reportedly to stay in Phoenix on new four-year, $48 million contract

Collin Gillespie earned a healthy pay raise.

Playing on a minimum contract after a couple of seasons on two-way deals, Collin Gillespie broke out last season: 12.7 points, 4.6 assists and 4.1 rebounds a game, shooting 40.1% from beyond the arc and setting the Suns franchise record for 3-pointers in a season with 232. More than that, Gillespie embodied the scrappy, defensive mindset that the Suns are trying to instill.

That earned him a new four-year, $48 million contract with the Suns, reports Shams Charania of ESPN. The new CBA allows NBA teams to negotiate with their own free agents before the official start of free agency (June 30) and, as was widely expected, the two sides reached an agreement.

This is a good deal for both sides. Gillespie gets his biggest contract and will make real NBA money, while the Suns keep a key part of their rotation on a very fair number.

Phoenix was $17.5 million below the luxury tax line before this contract, so they still have some room to make other moves to round out the roster without crossing that line.