Jalen Brunson’s decision to sign a four-year, $156 million extension with the New York Knicks was unexpected. Most NBA players do not pass up on opportunities to rake in the most dollars available. By signing this extension, Brunson is passing up on an even larger payday. If he would’ve waited until 2025 as a free agent, Brunson could’ve signed a $270 million deal for five years. The All-Star is missing out on around $113 million by signing the extension.
The move is a significant deal for the Knicks who now have one of the top players in the NBA on a modest contract. Now, the Knicks have more flexibility going forward as they look to improve the roster.
Brunson’s decision to take less is noble. But it also hints that this Knicks franchise is past the stage of looking to attain legitimacy. The team is on a path to being a legitimate championship contender. Sources close to the matter told SNY’s Ian Begley that Brunson chose the extension so he could help the Knicks build out the roster. The sacrifice shows Brunson and the Knicks have a belief that this team has a chance to compete with the upper echelon teams of the NBA.
How we got here
The Knicks and Brunson’s partnership has been a perfect match from the moment he signed in the summer of 2022. Once thought to be an overpay on a four-year, $104 million extension, Brunson has been one of the best value deals in the NBA.
He made his first all-star team last year and also made the All-NBA Second Team after averaging 28.7 points on 47.9 percent shooting with 6.7 assists and 3.6 rebounds in 35.4 minutes per game. New York has advanced past the first round each of the past two seasons, the first time the club has done so since 1999 and 2000.
The playoffs have been an even stronger confirmation of the damage Brunson can do to opponents. In 2023, he guided the Knicks to a first round series win and averaged 31.0 points on 50 percent from the field in a second round loss against a great Miami Heat defense. This year with fellow All-Star Julius Randle out, Brunson had five 40-point games in the playoffs and excelled despite facing double teams and larger defenders.
Looking with an eye towards to the future
The decision by Brunson to sign the deal is a confirmation that the Knicks are on the right path to championship contention. The blockbuster acquisition of Mikal Bridges from the Brooklyn Nets added a two-way wing that could guard multiple positions on defense while being able to score on the offensive end. Now, with Brunson, Bridges and OG Anunoby as starters and Donte DiVincenzo, Josh Hart and Miles McBride on the bench, the Knicks have elite depth on the perimeter.
Brunson’s deal should allow the Knicks to have some breathing room as the team potentially becomes more expensive. Both Randle and Bridges will be eligible for contract extensions later this year. Now, the team might feel more comfortable negotiating, knowing that Brunson is on a reasonable deal and can avoid going deep into the luxury tax.
This offseason can be defined by one word, apron. We saw teams like the Denver Nuggets (Kentavious Caldwell-Pope) and Los Angeles Clippers (Paul George) lose key cogs in free agency as they tried to steer away from reaching the second apron. The second apron level for the 2024-25 season is $188.931 million. The restrictions on teams in the second apron are harsh. So if the Knicks can stay out of it, they can utilize tools like the taxpayer mid-level exception ($5.2 million), or aggregating salaries in trades.
New York still has to address the lack of a backup center this offseason. Going forward, the Knicks will be able to make moves in the future if the roster is in need of tweaks over the course of the next few seasons.
As Begley mentioned, Brunson will be eligible for a 10-year veteran level max contract in the 2028 offseason if he opts out of the last year of the extension. The 10-year rule means he can sign for 35 percent of the salary cap. That means he can still have an astronomical payday coming in the future.
SNY
