In a groundbreaking move that underscores their aspirations for a competitive future, the New York Knicks have secured Jalen Brunson's services for four more years with a lucrative $156 million contract extension. This significant investment firmly positions Brunson as a central pillar of the Knicks' lineup and signals the franchise's intent to build a formidable team around the talented point guard.
The extension reflects the Knicks' confidence in Brunson’s abilities to elevate their game. His recent performances have shown promise, and this contract ensures that he will continue to play a key role in the team's strategy moving forward.
Mikal Bridges and the Extend-and-Trade Rules
Meanwhile, Mikal Bridges has become a focal point of discussions regarding contract extensions. Having become eligible for an extension under the NBA's extend-and-trade rules on October 1, Bridges' future in the league is a hot topic. Currently with two years left on his original contract, Bridges is in a prime position to capitalize on these rules.
Bridges previously secured a four-year, $90 million rookie extension with the Phoenix Suns in 2021. His impressive stint there came to a close on July 6 when he was traded. The extend-and-trade rules now allow Bridges to sign for up to four years with a 20% raise in the first year of the new deal, followed by 5% annual raises. This could amount to approximately $61.2 million in new money.
Given these terms, Bridges has two potential paths: he could act now and sign the extension under the existing terms or wait until the next offseason for a potentially richer payout. If he opts to wait, the next offseason could see him sign a contract worth about $113 million over three new years.
Future Financial Prospects for Bridges
Looking further into the future, starting July 1, 2025, Bridges will be eligible under the typical veteran extension guidelines. These allow for a 40% raise in the first new year, with 8% annual raises thereafter. Under these terms, Bridges could secure four additional years on his deal, potentially guaranteeing himself around $156 million over four new years and approximately $181 million in total. This could provide him with an unparalleled financial opportunity and establish his long-term presence in the league.
By the 2026 offseason, Bridges could be looking at an even more significant payday. He will have the option to sign a five-year deal starting at 30% of the salary cap, with 8% raises annually. This deal could potentially bring his earnings up to $296 million, again highlighting the lucrative prospects available to top-tier NBA talent.
However, if Bridges were to consider moving to another team, his potential maximum contract would be limited to four years with 5% annual raises, underlining the financial benefits of staying put with his current team.
OG Anunoby’s Massive Re-Signing
In another notable transaction, OG Anunoby has re-signed with New York, securing a whopping $212.5 million deal. This move reinforces the Knicks' strategy of maintaining a roster filled with talented and reliable players. Anunoby’s re-signing further solidifies New York's core strength and reflects their commitment to building a team capable of competing at the highest levels.
These significant moves by the Knicks highlight a period of strategic investments aimed at bolstering the roster with players who can deliver consistent performances. As the NBA landscape continues to evolve, the commitments made today will shape the competitive dynamics of the future, with the Knicks clearly positioning themselves to be at the forefront of that evolution.