What the Suns should do now
There are several options for the Phoenix Suns regarding Brandon Knight, although one one option should be taken seriously.
Cut and Run
The Suns could just admit defeat and cut ties with him. By cutting him they would assume his contract but open a roster spot. No Knight on the roster would open up playing time for Davon Reed and Derrick Jones Jr., plus the Suns might then not have to make a difficult decision by releasing a player still on a rookie contract, and instead allow that player to continue to develop his game in Phoenix for at least this season, if not longer.
But while from a roster standpoint this makes viable sense, having Knight’s contract on the books for the next three seasons would eat up a significant chunk of their cap space potentially preventing them from signing a free agent – or trading for a star – without secondarily moving other players that they otherwise may have been able to keep. $13M+ to $15M+ of dead cap space would be a brutal ordeal to deal with through 2020.
In the end, it is just not worth the risk of not being able to make future moves by having such a large contract on the books, and no player actively on the roster to account for it.