According to sources, Beasley agreed to a buyout price of a little less than the remaining $9.5 million of his guaranteed salary over the two years.
Beasley struggled with the Suns on and off the court. Last year, he feuded with coaches on the court and got into legal trouble off the court. The latest incident in August, when Beasley was arrested in Scottsdale on suspicion of marijuana possession, led to the Suns’ decision to part ways with him.
“The Suns were devoted to Michael Beasley’s success in Phoenix,” Suns president of basketball operations Lon Babby said in a press release. “However, it is essential that we demand the highest standards of personal and professional conduct as we develop a championship culture. Today’s action reflects our commitment to those standards. The timing and nature of this, and all of our transactions, are based on the judgment of our basketball leadership as to how best to achieve our singular goal of rebuilding an elite team.”