Forbes has a series of articles outlining the financial state of all 30 NBA teams including our very own Phoenix Suns, over the last ten seasons.

In short, the Suns are the 8th most valuable team in the league, right now, are decently profitable, and are in a pretty stable financial position.  What should be noted is that non-player expenses (eg maintenance, staff salaries, etc...) were $58M, vs. $69M on player expenses. 

Also, you should pay attention to the fact that the team has been consistently profitable over the last 10 years, although in percentage terms profit has fallen.  Two things stand out: growth in player expenses since the annus mirabilis of 2005, and the Nash effect on this team's fortunes.