Lee will earn $2.8 million with the Suns for his services during the 2024-25 season.

Players who possess player options are starting to decide whether or not they will remain with their teams as the deadline to do so draws near. Decisions must be finalized by June 29. Opting out means you are testing the free agent market to see what value you have.

The Suns entered the 2024 offseason with four players who faced this decision. Drew Eubanks, Josh Okogie, Damion Lee, and Eric Gordon all must decide if they want to call Phoenix their home for another year. Hopefully, they are out of town as they make this decision because the 117° air can surely sway you one way or another.

The latest reports have Damion Lee opting to stay with the Phoenix Suns, choosing to exercise his $2.8 million option.

Lee came to the Suns in 2022 after four seasons with the Golden State Warriors. His first year with Phoenix saw him shoot 44.5% from beyond the arc, good for 3rd best in the NBA that season. He chose to sign a two-year veteran minimum deal this past offseason to remain with the Suns, but unfortunately, he tore his meniscus in training camp, costing him all of last season.

One of the things the Suns were missing in the 2032-24 season was someone who could come off the bench and ignite the net aflame with their ability to hit the three-ball. Phoenix was last in the league last season in three-point shooting from their bench, hitting 31.9% of their three-pointers.

This was a role destined to be filled by Eric Gordon, but in 44 games as a reserve, EG shot 76-of-233 (32.6%) from deep. This is where Damion Lee can be highly valuable for the Suns. And hey, his defense couldn’t be much worse than what Gordon provided last year, right?

Both Eric Gordon and Josh Okogie have not yet made a decision. Drew Eubanks, who came to Phoenix as a free agent last season after playing a season and a half with the Portland Trail Blazers, opted out of his contract.

Damion Lee’s decision to resign is significant for Phoenix. It gives them a legitimate three-point threat off the bench, as well as helps with their overall cap situation kerfuffle. It will be nice to see the 31-year-old running out of the tunnel and joining the team when basketball returns this fall.