Phoenix Suns ownership and executives had a series of conversations with Chris Paul and his representatives on the All-Star point guard's future with the franchise Wednesday, including the possibility that he could be waived by the NBA's June 28 guarantee date on his contract, sources told ESPN.

The Suns insist that they're still working through several possibilities for Paul's future and reiterated that to his representatives later Wednesday afternoon, sources said. Phoenix plans to explore trade opportunities including Paul and Deandre Ayton that could alter the franchise's roster landscape ahead of a final decision on Paul's partially guaranteed contract, sources said.

Only $15.8 million of his $30.8 million for the 2023-24 season is guaranteed if he's waived -- unless the Suns keep Paul past that June 28 deadline date. The expectation is that the Suns would stretch and waive the guaranteed portion of Paul's salary next season ($3.16M per season over the next five seasons) to create more salary cap space and open up the team's ability to use the $12.2 million taxpayer midlevel exception. Paul's $30.8 million for 2024-25 is nonguaranteed.

Paul continues to want to return to the Suns and partner with his close friend Devin Booker and Kevin Durant, sources said. Nevertheless, Paul and his representatives want the organization to make a quicker decision on his future so that he can proceed out into free agency if indeed the Suns ultimately waive him, sources said.