Eric Bledsoe Trade Rumors: Suns Compromise With 'Mini LeBron' Sign Him To Five Year Deal [VIDEO]

The Eric Bledsoe contract saga is over. The Phoenix Suns and their previously disgruntled point guard have agreed to a five-year deal worth $70 million that served as a compromise from his previous demands.

Bledsoe rejected a four-year, $48 million offer from the Phoenix Suns earlier this offseason, and refused to back off his desire for a max contract for five years and more than $80 million.

The Suns didn't budge, most teams appeared unwilling to commit so much money to him, and all roads were pointing to Bledsoe signing a one-year qualifying offer for $3.7 million. Late in the game, the Minnesota Timberwolves declared their interest in signing Bledsoe for the max they could offer, but needed the Suns to work out a sign-and-trade agreement to remain under the salary cap.

Phoenix was not interested, but was apparently spooked enough that he'd eventually get a max deal next summer from another team. The Suns would still be able to offer more money, but by then the player-team relationship could have been irreparable.

Bledsoe will rejoin a crowded backcourt that features Goran Dragic, Isaiah Thomas, acquired in July from Sacramento in a sign-and-trade agreement, and Syracuse rookie Tyler Ennis. Upon signing the deal, Bledsoe released a statement via the Suns that contradicts the reported bad blood that was brewing.

"All summer, I knew that I really would be most comfortable coming back to Phoenix because of the great fans, my Suns teammates and our coaches. I am very happy it was able to work out this way.

"Lon, Ryan and the Suns have shown confidence in me, and I am looking to take that responsibility and help our team get better from last year and position ourselves to win an NBA championship," Bledsoe said. "It's why I came back to Phoenix."

Now that he's gotten his money, pressure on Bledsoe to remain healthy and be an All-Star will increase. Bledsoe received big minutes last season and responded with career highs in points (17.7), assists (5.5), rebounds (4.7) and field goal percentage (47 percent). Bledsoe does have an injury history, and his big numbers came in just 43 games last year; he was limited due to a meniscus injury that robbed nearly half his season.