The Phoenix Suns are actively exploring trade scenarios that include Grayson Allen and Royce O’Neale, according to NBA insider Marc Stein.
In his latest Substack report, Stein noted that both veterans have been part of trade chatter this week as the franchise looks to reshape its roster and reduce its luxury tax burden.
Allen, 29, played 64 games this season, averaging 10.6 points while shooting 42.6% from three. He is entering the second year of a four-year, $70 million contract.
O’Neale, 32, appeared in 75 contests, averaging 9.1 points and 4.7 rebounds while hitting 40.6% from deep. He is also under contract through 2028, with $42 million remaining on his deal.
Phoenix missed the playoffs after a 36–46 finish, prompting changes to the coaching staff and a reassessment of the team’s direction. Trading Allen and O’Neale would help the front office lower payroll and potentially facilitate a larger move involving Kevin Durant.
The 15-time All-Star has reportedly submitted a list of preferred destinations, which includes the Miami Heat, San Antonio Spurs, and Houston Rockets. Durant is signed through the 2025–26 season but is open to committing long-term if traded to one of those franchises.
With the June 25 NBA Draft approaching, trade discussions have accelerated. Shams Charania reported that a resolution could come within days, as Phoenix looks to finalize a deal that brings back young players, draft assets, and expiring contracts.
Allen and O’Neale are both considered valuable rotational pieces with playoff experience and high three-point efficiency, making them attractive to teams needing floor spacing and wing depth.
The Suns have explored multi-team trades, a strategy they reportedly pursued heavily during the season. Such deals could provide more flexibility in structuring a Durant move, especially with other suitors like Minnesota and Toronto showing interest.
Despite Durant’s preference list, the franchise is expected to prioritize the best overall return package. Several teams, including contenders and rebuilding squads, are monitoring the situation closely.
Trading either Allen or O’Neale—or both—would help clear salary and open additional pathways to reshape a roster that underachieved defensively and lacked consistent contributions from the bench.
