Phoenix Suns owner Mat Ishbia plans to offer Kevin Durant a $120 million extension this summer after he said the two sides bypassed the eligible one-year agreement in July.

Ishbia told ESPN there’s mutual interest in a deal that would bring both sides closer to their goal of the 14-time NBA All-Star retiring with the franchise eventually.

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“(Durant) loves being in Phoenix, we love having him,” Ishbia told ESPN. “He’s off to an amazing start this season — one of the MVP leaders — and we’re off to a very good start. We expect Kevin to sign an extension, be with us for the long term. We hope he finishes his career here in Phoenix. You can’t sign a two-year extension this last summer, you can’t do it based on the NBA rules. So we figured after the season we’ll talk about it, take care of it.

“Kevin wants to be here, we want Kevin here. There’s never been one grumbling of anything different.”

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Durant’s current contract expires after the 2025-26 season. All-Star sidekick Devin Booker is in the first season of a four-year, $220 million contract extension he signed to stay in Phoenix.

Durant remains sidelined by a calf injury that has knocked him out of the Suns’ lineup for the past six games. Phoenix is 1-5 without Durant after starting the season 8-1.

Durant, 36, is averaging 27.6 points, 6.6 rebounds and 3.4 assists per game this season. –Field Level Media