This has not yet been confirmed by official sources but I heard of this news from guys at ASFN.
Apparently, the news was on the radio (KTAR). To quote ASFN member PetryJr, this is what the radio guy said :
"The Suns seem to be close to signing Diaw to an extension. How close? A press conference is scheduled to tomorrow's afternoon, and Diaw should sign the extension by Friday."
Here's to hoping that the news is true!
EDIT: Suns, Diaw reach deal. This has been reported by Paul Coro at azcentral
This is great news for the Suns. They now have their future stars - Barbosa and Diaw locked in.
Suns forward Boris Diaw has agreed to a five-year contract extension worth approximately $45 million, a source close to the team confirmed.
The deal will be announced Friday and kick in for the 2007-08 season.
Looking at the kind of money young stars have been commanding this summer - Kaman (5/50), Nene (6/60), Howard (4/40); Diaw at an average of $9 mil/yr seems like a steal.
Suns owner Robert Sarver would have been flogged to death by Suns fans if they had let Diaw walk.