NBA Rumors: LA Lakers and LA Clippers are both interested in Chris Paul after getting waived by the Phoenix Suns

The Phoenix Suns are planning to waive Chris Paul and make him a free agent this summer. The latest NBA rumors have already linked Paul with the LA Lakers and LA Clippers.

TNT's resident NBA Insider Chris Haynes first reported that the Suns have told "CP3" that they are going to waive him. Once he becomes a free agent, Paul will have the option to chase a championship and sign with a contender.

Haynes also noted that Paul is not planning to retire anytime soon.

"Phoenix Suns have notified star Chris Paul that he will be waived, making the future Hall of Famer one of the top free agents this offseason, league sources tell NBA on TNT and Bleacher Report," Haynes reported.

He added:

"Chris Paul plans to play for several more years and is eager to help a team contend for a championship, sources say."

According to CBS Sports, the Phoenix Suns will try to trade Paul first just to try and get any assets in return. However, it's more likely that the veteran point guard will be waived due to his contract. He has $15.8 million guaranteed from his salary for the 2023-24 season and none for 2024-25.

Once the Suns ultimately waive Paul, they can use his $15.8 million guaranteed over the next five seasons. Once he reaches free agency, there are plenty of teams already looking to snatch him up.

ESPN's Adrian Wojnarowski revealed on 'Countdown' that the LA Lakers and LA Clippers are interested in Paul. The future Hall of Fame guard maintains his home in the area after his six-year stay with the Clippers.

Notably, he's a also close personal friend of LeBron James.

"I'm told Chris Paul and his reps, they want an answer on his future sooner than that June 28 deadline," Wojnarowski said. "They want to know if they're headed into free agency where he would be certainly very coveted, especially with the two teams in LA: the Clippers, the Lakers, where he still keeps his offseason home."

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Chris Paul is still looking for his first NBA championship

Chris Paul of the Phoenix Suns

Chris Paul is still looking to win his first NBA championship at the age of 38. Paul will need to find a new home, preferably somewhere he can have the best chance of winning a title.

The LA Lakers were four wins away from the NBA Finals this postseason but will have to make some tough decisions over the summer. The LA Clippers are seemingly just a point guard away from contending for a title.

They also need a healthy roster and Paul's injury history is probably as long as those of Paul George and Kawhi Leonard.

It will be interesting to see where Chris Paul ends up playing next season.