The New York Knicks are making sure the core is in place for some time.
New York has agreed to a four-year, $156.5 million extension with franchise centrepiece Jalen Brunson, the team announced on Friday.
The deal comes at a massive discount as Brunson was eligible to sign a five-year, $269 million deal in 2025 after he was named to the all-star and all-NBA teams for the first time in his career. This contract comes in at approximately $113 million less than what he could’ve earned and also comes with one less season of term.
Taking the discount opens up plenty of opportunities to bring in additional help or keep the core in place as the Knicks look to build on their two-straight second-round post-season appearances and contend for their first title since 1973.
“Jalen signing his extension to remain with the Knicks for the long-term shows the dedication and passion he has for the organization, the fans and this city,” team president Leon Rose said in a press release put out by the team. “Jalen has often called the Knicks his family and we are beyond proud to have him wear and represent our orange and blue for years to come.”
According to ESPN’s Adrian Wojnarowski, Brunson’s agent Sam Rose of CAA said that the deal comes with a fourth-year player option which would set Brunson up to recoup the rest of the $113 million on a four-year max in 2028 or a five-year in 2029.
Brunson’s extension will begin in the 2025-26 season.
The 27-year-old was a star for the Knicks last season, averaging 28.7 points, 3.6 rebounds and 6.7 assists on 47.9 per cent from the field and 40.1 per cent from 3-point range. He finished fifth in MVP voting and was named to the second-team all-NBA.
He also had a memorable post-season, with five 40-point games that included a franchise playoff-record 47 points in Game 4 of the first round against Philadelphia, and regularly received chants of “MVP! MVP!” during his first All-Star season.
Brunson originally joined the Knicks in the summer of 2022 on a four-year, $104 million contract, one that seemed bloated for a player who had yet to prove himself at the NBA level while playing second fiddle to Luka Doncic in Dallas. He has since taken the team above and beyond, helping them to their first Eastern Conference Semifinals since 2013.
“Jalen has embraced every challenge since he’s come to New York and has been committed since day one to the vision and plan we set forth for the future of this team,” Leon Rose said. “He has consistently led by example and continues to show a willingness to sacrifice for this organization, his teammates and everyone in the Knicks family.”
New York has had an active off-season, trading for wing and former Villanova teammate Mikal Bridges from the Brooklyn Nets and re-signing OG Anunoby to a five-year, $212.5 million contract.
Bridges, 27, has two guaranteed years left on his contract but will be eligible to sign a two-year extension on Oct. 1. The Knicks acquired him in a blockbuster deal that sent five first-round picks and a first-round pick swap to the Nets.
Forward Julius Randle is also eligible for an extension and will have a $30.9 million player option for the 2025-26 season.
As it stands, the Knicks will still be $4.9 million under the first apron and $15.7 million under the second apron, allowing them to continue fleshing out the rest of their roster.
— With files from the Associated Press