Jalen Brunson is facing a significant decision regarding his future with the New York Knicks. The team can offer him a four-year, $157 million contract extension starting this Friday, a considerable raise over his current four-year, $104 million deal signed in 2022. However, if Brunson opts to wait another year, he could be eligible for a max contract worth $269.1 million over five years as a free agent, according to The Athletic’s Fred Katz.
Accepting the extension now would mean foregoing over $100 million in guaranteed money. Brunson is considering the extension for a couple of key reasons. First, there is the aspect of security. Brunson considers the Knicks his “family” and has expressed a strong desire to stay in New York for the remainder of his career. Signing the extension now would eliminate any uncertainty about his contract situation during his prime years.
The second reason is related to the new second apron rules in the NBA’s collective bargaining agreement. The second apron imposes severe penalties on teams that exceed a certain payroll threshold, making it difficult for them to maintain a competitive roster.
By accepting the extension, Brunson could help the Knicks avoid these financial pitfalls, thereby contributing to the team’s long-term stability and success.
Brunson emerged as one of last season’s breakout superstars, averaging 28.7 points and 6.7 assists per game on 47.9% shooting from the field. His performance earned him his first All-Star selection and a spot on the All-NBA Second Team. Despite these achievements, the decision to sign an extension now or wait for a potentially more lucrative deal next summer is not straightforward.
If Brunson decides to wait until 2025 free agency, he could secure a contract worth a projected $269.1 million over five years, with an average annual value of $53.8 million. In contrast, the extension would offer him $39.1 million annually. The financial gap is significant, but the allure of stability and helping the team navigate new financial regulations might sway his decision.
Brunson’s decision will have far-reaching implications for the Knicks. Accepting the extension would provide immediate security and potentially help the team avoid the second apron, maintaining their flexibility in roster construction. On the other hand, waiting for a max deal would ensure he maximizes his earnings but might complicate the Knicks’ financial planning.
Ultimately, Brunson’s choice reflects a balance between personal financial security and loyalty to the Knicks, highlighting the complex considerations athletes face in professional sports. His decision will undoubtedly be closely watched by fans and analysts alike, as it will shape the future of the Knicks and his career.
The Knicks Have To Offer Julius Randle And Mikal Bridges Extensions As Well
The Knicks must be strategic before offering Jalen Brunson a supermax extension, as they also need to consider extensions for Julius Randle and Mikal Bridges.
Julius Randle, a pivotal player in the Knicks’ resurgence in 2021, has two years left on his current contract, one of which is a player option. Randle is a critical piece for the Knicks, and the team hopes to retain him. They can offer him a four-year extension worth $181.5 million this August. While there’s always the potential for a trade, the expectation is that Randle remains with the team to continue contributing to their success.
Mikal Bridges, the newest addition to the team, is also nearing eligibility for an extension. Starting October 1, he can sign a two-year extension with a 40 percent raise, amounting to a $72.5 million deal. If he waits until the end of the 2024-25 season, he can negotiate a three-year extension worth $112.9 million, which includes a $40.3 million third year.
Maintaining this core group is crucial for the Knicks, who are currently below the first and second apron thresholds. The financial flexibility allows them to manage extensions without severe penalties, ensuring they can keep their key players intact.
The Knicks will closely monitor how this group performs, especially after a season where they came within one game of the conference finals despite significant injuries to key stars.
The team’s ability to retain its core players like Brunson, Randle, and Bridges will be vital to their long-term success and stability. By carefully managing these extensions, the Knicks can build on their recent progress and continue to compete at a high level in the Eastern Conference.
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