Kevin Durant is not signing a one-year, $59.5 million contract extension with the Phoenix Suns

The 36-year-old Durant had been eligible for the one-year extension since July 12.

Phoenix could only offer a maximum one-year extension at the time due to the “Over-38 Rule”, which imposes a contract restriction of at least four years for a player who would be at least 38 during that contract. Durant has two years left on his current four-year, $194 million contract.

“I'm just trying to keep getting better, keep growing my game and see how good I can get,” Durant continued. “That has always been my main focus.” When the time has come, the time has come. At the moment I have two seasons left on my contract, so I will focus on those two.”

The two-time Finals MVP remains one of the game's best players even in his 18th year^Th NBA season. With an average of 27.1 points last season, Durant made the All-NBA second team in his first full year in Phoenix.

Durant later won a record fourth Olympic gold medal in men's basketball in Paris.

The Suns acquired Durant just before the 2023 trade deadline in a blockbuster deal that sent Mikal Bridges, Cam Johnson, Jae Crowder and several first-round picks to the Brooklyn Nets.