Jalen Brunson and the Knicks have agreed to a contract extension that will tie the guard to New York through at least the 2027-28 NBA season. The extension also provides the franchise with significant financial flexibility.
Following a run to the conference semifinals after a 50-win season that saw the guard earn All-NBA Second Team honors, the point guard will sign a four-year, $156 million extension with the Knicks. The deal includes a player option in Year 4, per an SNY source.
Knicks president Leon Rose said Brunson signing the extension showed the “dedication and passion he has for the organization, the fans and this city.”
“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,” Rose said in a statement announcing the extension. “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.
“Since Jalen joined us two years ago, 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.”
Brunson left a lot of money on the table by opting to sign now rather than after next season. If Brunson had waited another year, the Knicks — using their Bird rights for the guard — could have exceeded the NBA salary cap to retain Brunson and offered him a deal for as long as five years and as much as $270 million. So by signing the extension, Brunson is giving the Knicks significant financial flexibility.
That was a major factor in Brunson’s decision. He chose to take the extension as opposed to waiting for free agency so he could help the Knicks build out the roster, sources familiar with the matter told SNY.
The first three years of Brunson’s extension are $37 million less than the corresponding three years of the deal he could have signed as an unrestricted free agent.
That $37 million savings will loom large for New York as it tries to navigate the financial limitations of the new collective bargaining agreement.
If the Knicks’ team salary exceeds the second apron, it would severely limit their options to add players. Brunson’s decision to sign the extension gives the Knicks much more room to operate before they reach the second apron. Looking ahead, Brunson’s extension also sets him up for a bigger contract in the future. If he opts out of the final year of the extension, Brunson will be eligible for a 10-year veteran level max contract in the 2028 offseason.
Earlier in the offseason, the Knicks re-signed OG Anunoby to a five-year, $212.5 million contract and traded for Mikal Bridges. The Knicks are still searching for center depth. They have explored some trade options for higher salaried veteran centers and they remain in touch with Precious Achiuwa, sources familiar with the matter told SNY.
Regardless of what happens at center, signing Brunson to this extension checks off a big box for the Knicks.
Last year, his sixth in the NBA, Brunson averaged 28.7 points on 47.9 percent shooting with 6.7 assists and 3.6 rebounds in 35.4 minutes per night. He was named an Eastern Conference All-Star for the first time in his career, finished fifth for MVP, fifth for Most Improved Player, and fifth for Clutch Player of the Year.
Brunson has helped the Knicks reach the second round of the playoffs in each of the past two seasons for the first time in back-to-back seasons since 1999.
Brunson was proud of the season, but not satisfied and unwilling to call the season a success after bowing out in the semifinals for the second-straight season with a Game 7 loss to the Indiana Pacers at Madison Square Garden, a game that saw the guard break his left hand.
Entering this offseason, Brunson had one year and a player option for a second year remaining on the four-year, $104 million deal he signed as a free agent before the 2022-23 season.
Now, with the new extension in hand, Brunson will play the final year of his original contract and begin to play under the new four-year extension in the 2025-26 season. He declined the 2025-26 player option on his current deal in order to sign the extension.
Brunson’s ties to the Knicks organization run deep. His father, Rick Brunson, played for the Knicks in the late 1990s. He was also one of the first clients of Leon Rose when Rose was a player agent. Rose’s son, Sam, is now a player agent for CAA and represents Jalen Brunson. Tom Thibodeau was an assistant coach during Rick Brunson’s stint with the Knicks. Thibodeau, obviously, is now the head coach of the Knicks. He talks often about seeing Jalen Brunson as a young kid, shooting around before Knick games. Fast forward two decades later, and Brunson is doing everything he can to get Thibodeau and the Knicks an NBA title.
SNY
