The New York Knicks busy offseason continued on Friday as they locked up their best player, Jalen Brunson, on a new 4-year, $156.5 million contract extension.
In a largely unprecedented financial concession to give roster flexibility to a contender, New York Knicks star Jalen Brunson has agreed on a four-year, $156.5 million extension, his agent Sam Rose of CAA tells ESPN — $113M less guaranteed than he’s eligible to receive in one… pic.twitter.com/DDJvz7TUlr
— Adrian Wojnarowski (@wojespn) July 12, 2024
By signing this summer instead of next year, Brunson saved the Knicks nearly $13 million per year across the life of the deal compared to the 5-year designated player max he could’ve signed in 2025 — which would’ve made him $113 million more total (but with an extra year).
Here’s how it looks pic.twitter.com/AKsU33fmby
— Adrian Wojnarowski (@wojespn) July 12, 2024
That’s a generous move from the star to help the Knicks navigate the cap and apron restrictions going forward with their star-studded roster that now features Mikal Bridges after a blockbuster trade and saw OG Anunoby sign for just under the max this summer. Having stars willing to take a bit less is going to be key with the second apron penalties for teams maintaining the ability to keep rosters together.
Brunson is coming off of the best season of his career, averaging career bests with 28.7 points and 6.7 assists on 48/40/85 shooting splits, leading New York to the second round of the playoffs despite numerous key injuries. The Knicks hope they have built a legitimate contender around Brunson with their offseason moves, and Brunson clearly believes in this team’s championship potential by cutting the Knicks a bit of a deal by signing this contract now rather than pushing for the absolute most he could make next summer.
