Phoenix Suns guard Collin Gillespie delivered one of the most memorable moments of the season after breaking the franchise’s single-season three-point record. The milestone not only highlights his impressive shooting season but also puts him in a strong position as he approaches NBA free agency.
With the Suns dealing with limited salary cap space, Gillespie’s performance creates an interesting situation for the team as they decide whether they can afford to keep the rising guard.
Historic Night for Gillespie
Collin Gillespie made history on March 21, 2026, during a game against the Charlotte Hornets in Phoenix.
In the second quarter of that matchup, he knocked down his 227th three-pointer of the season, setting a new Phoenix Suns franchise record for most three-pointers made in a single season. The record was previously held by Quentin Richardson.
Collin Gillespie just broke the Suns single-season record for three-pointers 😳pic.twitter.com/GFbHtf19wY
— Outta Pocket with RGIII (@OuttaPocketRG3) April 3, 2026
The achievement was another milestone for the 26-year-old guard, who entered the league as an undrafted player and gradually worked his way into a key role for the Suns.
PlayerAchievementCollin GillespieSuns single-season 3-point record3-Pointers Made227Previous Record HolderQuentin RichardsonGameSuns vs Hornets
Strong Season Numbers
Gillespie’s breakout season has been backed by solid overall production. He is currently playing on a one-year contract worth $2.4 million and has appeared in 76 games.
His performance this season includes career-best numbers in multiple statistical categories.
Season StatAveragePoints per Game13.0Assists per Game4.8Rebounds per Game4.1Player Efficiency Rating15.5Games Played76
These numbers, combined with his record-breaking shooting, have significantly increased his market value ahead of free agency.
Contract Situation and Market Value
Gillespie’s current contract is relatively small compared to other guards producing similar numbers.
Several players with comparable roles and performance levels are earning contracts worth $25 million or more per season. Because of this, Gillespie and his representatives are expected to explore the free-agent market for a major pay increase.
A realistic contract projection could place him in the range of $15 million to $18 million per year on a multi-year deal.
Player ComparisonEstimated Annual SalaryAndrew NembhardSimilar rangeGrayson AllenSimilar rangeMax StrusSimilar rangeProjected Gillespie Deal$15M – $18M per year
Phoenix Suns Salary Cap Situation
While Gillespie has strengthened his value, the Suns face financial limitations heading into the offseason.
Phoenix currently sits as the seventh seed in the Western Conference and has several players entering free agency in 2026.
PlayerFree Agency StatusCollin GillespieFree Agent 2026Mark WilliamsFree Agent 2026Amir CoffeyFree Agent 2026Jordan GoodwinFree Agent 2026
The Suns are only about $22.8 million below the NBA’s first salary apron. That makes it difficult to retain multiple players without facing roster restrictions.
Phoenix does hold Bird rights for both Gillespie and Mark Williams, which technically allows the team to exceed the salary cap to re-sign them. However, going beyond the apron would limit the team’s ability to make additional roster moves.
Possible Salary Moves for Phoenix
If Phoenix wants to keep Gillespie while staying flexible financially, the team may need to make roster adjustments.
One possible strategy would be re-signing role players like Jordan Goodwin and Amir Coffey on minimum contracts. That could leave approximately $18 million available to divide between Gillespie and Mark Williams.
Another option would be trading higher-salary players to create more cap space.
PlayerSalaryPossible ImpactGrayson Allen$18 millionCould free significant cap spaceRoyce O’Neale$11 millionSmaller but helpful salary relief
At the moment, there are no strong indications that Phoenix plans to move either player.
Potential Free Agency Interest
If Gillespie reaches unrestricted free agency, teams with available salary cap space could pursue him aggressively.
Clubs looking for reliable shooting and playmaking depth may see him as a valuable addition.
Possible interested teams could include franchises with cap flexibility such as Memphis or Brooklyn, both of which could afford a higher offer than Phoenix.
What the Record Means for Gillespie’s Future
Breaking the Suns’ franchise three-point record is a major career moment for Gillespie and strengthens his case for a bigger contract.
His combination of scoring, playmaking and efficient shooting makes him an appealing player in today’s NBA, where three-point shooting has become increasingly valuable.
Whether Phoenix can retain him or another team signs him in free agency, Gillespie’s historic season has already changed the trajectory of his career.
FAQs
What record did Collin Gillespie break?
He set the Phoenix Suns single-season franchise record for most three-pointers made with 227.
How much is Gillespie currently earning?
He is playing on a one-year contract worth $2.4 million.
What are Gillespie’s averages this season?
He is averaging 13.0 points, 4.8 assists and 4.1 rebounds per game.
Can the Suns re-sign him?
Yes, Phoenix holds Bird rights which allow them to exceed the salary cap to re-sign him.
What could Gillespie’s next contract be worth?
A realistic deal could range between $15 million and $18 million per season.