The decision, which comes less than one year after the team hired Budenholzer on a five-year deal worth more than $50 million and less than four years since he won a title with the Milwaukee Bucks, is the latest course correction from Suns owner Mat Ishbia that comes with significant cost.

The Suns hired Frank Vogel in June 2023 on a deal worth a reported $31 million over five years. He did lead the team to the playoffs with a 49-33 record in the regular season, but a first-round sweep at the hands of the Minnesota Timberwolves led to his firing.

Mat Ishbia said he was 'embarrassed' by the Suns' season, saying Mike Budenholzer didn't fit the new, tougher, grimier vision he has for the team.