The Phoenix Suns are converting the two-way contract of Mike James into a regular NBA deal.

James is the first two-way player to have his contract converted under the NBA's new system. James made a projected $213,000 on the two-way contract, and he could make $580,607 on a minimum NBA contract for the remainder of the season.

The Suns plan to create a roster spot for James.

Two-way contracts are paid on a smaller scale, and James will have exhausted his 45 days on an NBA roster on Thursday, which is counted from the first day of G-League training camp.