PHOENIX — The Phoenix Suns finalized their roster for the beginning of the 2026-27 regular season over the weekend by releasing forward Haywood Highsmith.

Highsmith didn't play in the team's preseason finale on Friday, and after news emerged Jamaree Bouyea would secure the 14th roster spot (Phoenix wants to reportedly keep the spot open for flexibility), Highsmith appeared to be on the way out.

Highsmith's exit now drops the Suns to $7.9 million under the second apron of the NBA's luxury tax, which they are capped at. This, alongside the open roster spot, allows room for a move down the road if the Suns feel obligated to do so.

From Spotrac's Keith Smith:

"By waiving Haywood Highsmith, the Phoenix Suns will drop to $7.9M under their second-apron hard cap. Phoenix is also keeping Duop Reath by converting him to a two-way contract. That will necessitate a waiver of one of the team's current two-way players."

Pat Spencer, Koby Brea and CJ Huntley are the other players currently on a two-way contract. With Reath being converted to a two-way deal, Huntley is the likely player to be waived from his spot in Phoenix.

Earlier in August, the Suns waived (and then quickly re-signed) Highsmith for some salary cap manuevers. Phoenix went from $1 million guaranteed on the original deal to a $2.5 million veteran minimum contract that wasn't guaranteed before he was ultimately sent packing this weekend.

The Suns are hard-capped at the second apron thanks to their usage of cash in the draft night trade for forward Koa Peat.

Phoenix is hoping to take the next step in 2026-27, which involves winning a playoff series according to owner Mat Ishbia.

“You should be thinking that we’re going to be better than we were last year,” he said. “As in, we’re going to make the playoffs. We’re going to win the first playoff series.”

The Suns, if they somehow dip out of the NBA's first apron of the luxury tax, will completely dodge the league's "repeater tax" — though Ishbia seemingly made the decision to pay up on that end this summer after re-signing faces such as Collin Gillespie, Jordan Goodwin and Mark Williams.

Phoenix made it to 45 wins and a play-in tournament appearance last season, massively surpassing their low expectations and setting the stage for what should be a fun 2026-27 campaign that begins on Wednesday in Portland.