Sources: Chris Paul signs free agent contract with Spurs

Out-of-contract point guard Chris Paul is signing a one-year deal with the San Antonio Spurs worth over $11 million, sources confirmed to ESPN on Sunday evening.

The Spurs and Paul wasted no time in negotiating a contract, just hours after the Golden State Warriors informed the veteran point guard that they would release him on the day his $30 million salary for the 2024-25 season was set.

Instead, 39-year-old Paul will spend his 20th NBA season in San Antonio, where he and coach Gregg Popovich will help the Spurs build a winning team around star center Victor Wembanyama.

After a loss to the Warriors on March 11, Popovich had nothing but praise for Paul.

“He’s one of the best competitors of all time in the league,” Popovich said. “He’s a great leader, a great competitor. He’s always fun to watch.”

Last season with the Warriors, Paul, a 12-time All-Star, was benched and started in only 18 of the 58 games he played, averaging 9.2 points and 6.8 assists per game in 26.4 minutes per game. In those appearances, Paul averaged 11.9 points and 7.3 assists per game.

Paul ranks third in NBA history with 11,894 assists and joins a roster that was in need of a point guard before the offseason.

The Spurs began experimenting with forward Jeremy Sochan at the position last year before moving to a more traditional style of play with Tre Jones. San Antonio also drafted Stephon Castle with the No. 4 pick in the draft. Castle has said he would like to play point guard in the NBA.

Paul is on pace to become the 11th player in NBA history to play 20 seasons as he returns to Texas, where he previously played two seasons with the Houston Rockets from 2017-2019.