New York Knicks All-NBA guard Jalen Brunson agreed to a four-year, $156.5 million contract extension — with $113 million less guaranteed that he’d be eligible to sign — to give the contending franchise roster flexibility. A year now — his agent, CAA’s Sam Ross, told ESPN on Friday.
The deal, which begins in 2025-26, will cost Brunson $37.1 million over the next three years, comes with a fourth-year player option, Rose said, and will set Brunson up to recoup $113 million over four years. $323 million maximum extension in 2028 or a new five-year, $418 million contract in 2029.
Brunson, 27, became eligible to negotiate and sign a max extension on Friday.
Here’s how it looks pic.twitter.com/AKsU33fmby
— Adrian Wojnarowski (@wojespn) July 12, 2024
Despite the inherent risk of injury and unforeseen complications that will come from Brunson’s decision to turn down his lucrative NBA salary, his priority is to maximize the prime of his career with the franchise’s most talented and deepest roster since the 1990s.
The ramifications of Brunson opting for a four-year, five-year max $156.5 million, $269.1 million contract in 2025 are huge for the Knicks’ ability to hold this team together and make roster moves to close the gap on a championship. Brunson’s deal keeps the Knicks out of the second tier of the salary cap, which severely limits a team’s ability to trade, sign and use draft picks.
Championship organizations and franchise stars — Patrick Mahomes’ Kansas City Chiefs, Tom Brady’s New England Patriots and Derek Jeter’s New York Yankees — Brunson’s study made deals with MVP-level players who gave their teams their best. Chances of consistent title runs.
Brunson’s arrival to the Knicks two years ago in a $104 million free agent deal was one of the league’s most transformative acquisitions of the past decade. After starting his career as a backup point guard with the Dallas Mavericks, Brunson developed into one of the NBA’s most impactful players and leaders. Brunson had his best NBA season in 2023-24, earning All-NBA honors and finishing in the top five in MVP voting. He averaged 28.7 points per game and scored 3,481 points. Brunson, who had 11 40-point games in the regular season, became the first Knicks player with 40 points and five assists in four straight playoff games, according to ESPN Stats and Information.
The Knicks arguably got better — and arguably more expensive — this season. New York signed OG Anunoby to a five-year, $212.5 million contract and traded him to the Brooklyn Nets for forward Michael Bridges and the remaining $48 million on his contract.
Brunson’s ties to the Knicks are deep and reflect his faith in the organization. President of basketball operations Leon Rose was Brunson’s agent before he joined the team in 2020. Brunson’s father, Rick, is a Knicks assistant coach and was a longtime client of Rose’s during his agent days. The Knicks surrounded Branson with the star cast of his former national championship team at Villanova and created remarkable synergy on and off the floor.
In the modern era, where all-NBA player waivers allow salary cap flexibility, San Antonio’s Tim Duncan took $11 million less than the maximum in 2007, Manu Ginobili and Tony Parker and Golden State’s Kevin Durant took $10 million less to keep Shaun Livingston. and Andre Iguodala in 2017. LeBron James accepted a $101 million contract this offseason, $2.6 million less over two years, to avoid the Los Angeles Lakers second apron.
This time, Brunson is taking a $37 million loss, which comes with $113 million in total risk for chasing a title with the Knicks.
ESPN’s Bobby Marks contributed to this report.
