Eric Bledsoe & Phoenix Suns Agree To Five-Year Contract

The Phoenix Suns have agreed to a five-year, $70 million contract with restricted free agent guard Eric Bledsoe, sources told ESPN.com.

The deal comes months after a roller coaster of talks and stalemates, from both sides, but it resulted in Eric Bledsoe getting the deal he wanted (or pretty darn close).

Brian Windhorst of ESPN reports,

"“The Suns are able to lock up one of their franchise cornerstones for the long-term and Bledsoe got security after his best season as a pro, averaging 17.7 points and 5.5 assists his first year in Phoenix.”"

Bledsoe had planned to sign a one-year qualifying offer of $3.7 million with the Suns at the end of this week had a deal not been reached so he could be an unrestricted agent next year.

Reports surfaced earlier in the week that the Suns and Minnesota Timberwolves were in talks and they made a final, aggressive bid for Bledsoe. The Wolves were prepared to give Bledsoe a four-year deal worth more than $60 million in such a trade, which strengthened Bledsoe’s position that he would be a commodity in the market next year.

"“With Bledsoe re-signed, the Suns will have one of the deepest backcourt rotations in the NBA with standout Goran Dragic, free agent addition Isaiah Thomas and recent draft picks Archie Goodwin and Tyler Ennis."

Bledsoe helped the Suns to 48 wins last season after they won 25 in the 2012-13 season.