Monta Ellis got a three year deal worth $25 million, and Jeff Teague got a four year deal worth $32 million - that's $8.5 and $8 million a season respectively. Is Thomas going to be in that ballpark?
It wouldn't surprise me. This season you potentially have point guards like Eric Bledsoe (17.7 ppg, 5.5 apg, 19.62 per), Kyle Lowry (17.9 ppg, 7.4 apg, 20.20 per), and Mario Chalmers (9.8 ppg, 4.9 apg, 14.06 per) joining Thomas in free agency. Last year Monta Ellis averaged 19.4 ppg, 6.1 apg, and 16.56 per; and Jeff Teague averaged 14.5 ppg, 7.2 apg, and 16.86 per. So stats wise, Thomas doesn't look out of place against those guys with his performance this season - 20.3 ppg, 6.2 apg and 20.54 per.
Now I don't know how much the market will value these potential free agents, but it will be unlikely to see Bledsoe, Lowry or Thomas receiving less than what Ellis and Teague got paid last season. Personally I don't see the Suns or Raptors letting Bledsoe and Lowry leave after their contributions to their team's success this season, but in regards to Thomas, I am not convinced we should pay him that type of money for a player with his shortfalls.
We could look to his replacement in the draft. Marcus Smart could be available at #7, and the likes of Tyler Ennis, Shabazz Napier and Elfrid Payton should be available in the mid-first round. It would be nice if we could acquire another first round pick to go along with our top ten pick to allow us to come out of the draft with a haul like Noah Vonleh and Ennis/Napier/Payton. But if we traded our #7 pick for Chicago's #16 and #19, we could come out of it with a haul like Ennis/Napier/Payton and Grant/Payne. Either scenario would allow us to replace Thomas, by adding two first round players talent and saving cap space to re-sign Rudy Gay and/or another big name player. The alternative way would be to try and outbid the Suns and Raptors for Bledsoe and Lowry, though that could turn out to be a very expensive option.