NBA

Mike Budenholzer Still Owed $40 Million After Suns Firing as Phoenix Faces Costly Coaching Carousel

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By
Colin Lynch
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Colin Lynch Sports Editor

Colin Lynch covers the NFL, MLB and WNBA for Heavy.com, with a focus on the New England Patriots. His sports coverage has been featured on The Sports Daily and Basketball Insiders, as well as FanSided's Chowder & Champions. A New Hampshire native and former D1 baseball player at St. John's University, Colin was drafted by the San Diego Padres in 2008 and enjoyed a four-year professional baseball career.

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Published15 Apr 2025

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Mike Budenholzer Still Owed $40 Million After Suns Firing as Phoenix Faces Costly Coaching Carousel

The Phoenix Suns will pay a steep price in order to move on from former head coach Mike Budenholzer after one season of leading the Suns. 

The Phoenix Suns made headlines once again this offseason—not for a blockbuster trade or playoff run, but for the steep price of change. After just one season at the helm, head coach Mike Budenholzer was fired following a disappointing 36-46 finish and no trip to the postseason. Yet, despite his early exit, Budenholzer will still collect a staggering $40 million from the team as part of the remainder of his contract.

That number, on its face, is eye-opening. But in Phoenix, it’s part of a pattern.

One Owner, Four Coaches, and a Ballooning Bill

Under owner Mat Ishbia, the Suns are rapidly approaching historic levels of financial investment in head coaches—none of whom are currently on the sidelines. In addition to Budenholzer’s $40 million payout, Ishbia is still on the hook for Monty Williams, who was fired in 2023 with $20 million left on his deal, and Frank Vogel, dismissed after the 2024 season with around $18 million remaining on his contract, which runs through 2028.

All told, the Suns are actively paying nearly $80 million to three coaches who are no longer leading the team. And whoever they hire next? That coach will simply add to the tab.

This revolving door of leadership has cast a long shadow over the organization, especially for a team with championship aspirations and a payroll already deep in second-apron luxury tax territory.

A Locker Room in Disrepair

Budenholzer’s dismissal wasn’t strictly about the win-loss column. Sources close to the team have pointed to a fractured locker room and strained relationships with the Suns’ core stars, including Kevin Durant, Devin Booker, and Bradley Beal. Reports of internal clashes and philosophical differences plagued the Suns’ season and ultimately spelled the end for the former NBA champion coach.

It was a far cry from Budenholzer’s 2021 title run with the Milwaukee Bucks. In Phoenix, the fit never quite clicked.

A Costly Reset in the Valley

For all of Ishbia’s aggressive spending—both on talent and coaching—it hasn’t translated to success. The Suns are now searching for their fourth head coach in as many seasons and must determine whether any amount of investment can restore the franchise’s credibility and cohesion.

They’ll also need to reckon with the reality that, despite fielding a roster stacked with All-Star talent, they remain well short of true contention. A fresh voice in the locker room might help, but this is not a team that’s one hire away from greatness.

Whoever inherits the Suns’ head coaching position will face a high-pressure situation: win now, or become the next name on the growing list of costly mistakes. Meanwhile, Mike Budenholzer walks away with his legacy intact and $40 million still coming his way.

The only question that remains: will the Suns’ next chapter be worth the price of this one?