Chandler has a favorable deal to the Suns for exactly that kind of thing IIRC. And meanwhile, he's an ideal dude for them to have around even playing.
Bledsoe's in a tough spot, he's too old for that team but they kinda need him without Knight and Ulis just to fill the spot, and nobody else is going to give him the contract he wants, he has an opt-out after this season and apparently wants max level money again. Also, Bledsoe's style doesn't really mesh with how the team is being built, or even what Watson wanted to do with it even though they're buds. I also have a hard time thinking of a good spot for him to land that gets the Suns back stuff they'd want.
Maybe just send him back to the Clippers or something to clear him out for "goodwill" with others. That might help make up for shutting him down last year.