The Phoenix Suns’ odds of winning the NBA Championship have improved following the acquisition of Chris Paul.

The addition of two “CPs” by the Phoenix Suns on Monday did little to alter their outlook for the 2021-22 regular season, as they are still considered strong contenders by Arizona betting apps.

The Western Conference champions have bolstered their backcourt by signing experienced guards Chris Paul and Cameron Payne, who were instrumental in the team’s journey to their first NBA Finals appearance since 1993.

Championship Chances

FanDuel AZ Sportsbook has listed the Suns with the seventh-best chance of winning the 2022 NBA championship, with odds at +1300.

Phoenix is slightly favored at DraftKings AZ Sportsbook, with the fifth-highest likelihood of winning the 2022 title at +1600 odds.

BetMGM AZ is giving the Suns the fifth-best chance to win the 2022 NBA Championship with odds set at +1400.

The Arizona betting trends indicate that the Nets are the favorites to win the title in 2022. BetMGM is offering odds of +225, FanDuel has them at +220, and DraftKings has them at +200.

Analyzing the CP Deals

According to an ESPN report, Paul inked a contract exceeding $120 million for four years. This lucrative deal follows a standout season for the seasoned player, who boasts 16 years of experience in the league.

After a breakout eighth year in the league, Payne secured a three-year contract worth $19 million. He had been a lottery pick earlier in his career.

The ex-Murray State Racer made a big difference in the Suns’ playoff run by averaging 9.3 points per game in 22 matchups. He took on a bigger role when Paul was out with a wrist injury in the Western Conference Quarterfinals and also fought off COVID-19 before the NBA Finals.

After completing contracts with Paul and Payne, signing McGee for one year at $5 million, and trading for Shamet from the Brooklyn Nets, Phoenix now has just under $56 million in luxury tax space.

According to Arizona sports betting sites, the additions of McGee and Shamet, as well as the signings of Paul and Payne, did not significantly change the Suns’ chances of winning the championship.

Looking Forward

The Suns could significantly shake up free agency by either signing Kawhi Leonard or making a trade to bring in another skilled player.

According to SportsBetting.ag, the Suns are currently ranked fourth in the odds to sign Leonard. The New York Knicks are in the lead at +200, followed by the Dallas Mavericks at +250, and the Golden State Warriors at +300.

One more decision the Suns must make this offseason is whether to keep forward Deandre Ayton or guards Mikal Bridges and Shamet.

Ayton and Bridges, both key contributors to the Suns’ Western Conference championship team, will enter restricted free agency after the 2022 season.

Ayton, coming off his most impressive season in 2021 where he averaged 15.8 points and 11.8 rebounds, is approaching the last year of his rookie contract.

The University of Arizona’s top pick is poised to make $12.6 million in the final year of his rookie contract, and could receive a $16.4 million qualifying offer in 2022.

Bridges is scheduled to make just over $5.5 million in 2021 with the chance to earn a $7.5 million bonus at the conclusion of the season.

The Suns have the opportunity to offer Ayton, Bridges, and Shamet a five-year, $173 million rookie extension at any time.

Shamet, who is in the final year of his $9.5 million rookie deal, is scheduled to earn $3.7 million in the 2021-22 season.