2024-07-13 08:50:01
Jalen Brunson is staying with the Knicks on a massive discount. The All-Star guard agreed to a four-year, $156.5 million extension on Friday, per reports. By signing this contract now instead of next offseason, the All-NBA Second Team selection is leaving more than $100 million in guaranteed money on the table. Brunson would have been eligible for a five-year, $269 million extension next summer.
On its face, that’s a $113M sacrifice that will be a massive boon for the Knicks’ ability to keep this team — which is about to become extremely expensive in the coming years — together for the long term, as the Knicks’ OG Anunoby, Julius Randle and Mikal Bridges will join Brunson in making more than $23M next season.
In reality, it’s really only a $37M over the next three years, as Brunson is likely signing this extension now with a player option on the fourth year to become a free agent in the summer of 2028, when he will be at the 10-year mark of his career, making him eligible to sign a whopping five-year, $417M extension. CBS salary-cap expert Sam Quinn breaks down all the nerd numbers here.
Still, $37M isn’t chump change, and besides that, a lot can happen between now and 2028. Remember when Isaiah Thomas was was believed to be on track for a $200M contract only to suffer an injury which derailed his entire career before he could actually sign? He has made less than $15M since.
So Brunson takes that possibility off the table by securing his money now, while also saving the Knicks a ton of short-term money and lining up his ultimate payday on the shortest timeline possible. This is a win every way you look at it. Brunson just became a sainted figure in New York.
