In a significant move for the New York Knicks, Jalen Brunson has officially signed a four-year, $156 million contract extension. This monumental deal not only affirms Brunson's status as a cornerstone of the franchise but also underscores the Knicks' determination to build a competitive team around their talented point guard.
Brunson's extension is likely to have a ripple effect within the team and the league. This strategic decision highlights the Knicks' long-term vision and commitment to retaining top talent. With Brunson secured for the foreseeable future, the Knicks' front office can now focus on further strengthening their roster to compete at the highest levels of the NBA.
Mikal Bridges' Extension Potential
Meanwhile, Mikal Bridges has reached a pivotal point in his career, becoming eligible for an extension under the NBA's extend-and-trade rules as of October 1. Bridges, who inked a four-year, $90 million rookie extension with the Phoenix Suns in 2021, was traded on July 6. The unique extend-and-trade rules offer Bridges an intriguing pathway to further financial security.
Under these rules, Bridges could potentially sign up to four total years with a 20% raise in the first year of the new deal, followed by 5% annual raises. Given he has two years remaining on his current contract, this could equate to about $61.2 million in new money.
If Bridges opts to wait until the next offseason, his earning potential increases significantly. He could then sign a contract worth approximately $113 million over three new years. This waiting game could play to Bridges' advantage, allowing him to secure a more lucrative deal in line with his evolving market value.
Future Financial Prospects
From July 1, 2025, Bridges will have another opportunity to capitalize on the typical veteran extension guidelines. These allow for a substantial 40% raise in the first new year, followed by 8% annual raises. Under these conditions, Bridges could potentially secure four additional years on his deal instead of two, guaranteeing himself around $156 million over four new years. All told, this could bring his total earnings to an impressive sum of approximately $181 million.
Looking even further ahead, the 2026 offseason offers yet another financial milestone for Bridges. Starting that year, he could sign a five-year deal starting at 30% of the salary cap, with 8% annual raises. This extension might see Bridges raking in up to $296 million, contingent on both his performance and the evolving salary cap.
Contract Limitations with Other Teams
However, should Bridges consider moving to another team, his financial prospects would be somewhat constrained. The maximum potential contract with another franchise would be limited to four years, with 5% annual raises, falling short of the numbers he could achieve by staying put and leveraging the favorable terms of his current and future extensions.
OG Anunoby's Re-signing
In related news, OG Anunoby has made a significant financial commitment by re-signing with New York for a whopping $212.5 million. This figure is indicative of the franchise's broader strategy to retain and build around high-caliber players.
Anunoby's extension, much like Brunson's, solidifies his role within the team and ensures that the Knicks maintain a robust and competitive core. By retaining key players like Brunson and Anunoby, the Knicks are sending a clear message to the league: they are serious about building a championship-contending team.
The Knicks' recent moves, including extending Brunson and re-signing Anunoby, highlight a proactive approach to securing their future. These strategic decisions will undoubtedly shape the team's performance in the coming seasons, as they strive to return to the upper echelon of the NBA.