In a significant move that underlines the New York Knicks' ambitions, Jalen Brunson has secured his future with the franchise, signing a four-year, $156 million contract extension. This lucrative deal cements Brunson's role as a pivotal figure in the Knicks' drive to build a competitive team. The Knicks' commitment to their talented point guard is evident, as they aim to bolster their roster and make a deeper impact in the league.
Meanwhile, Mikal Bridges is navigating the complexities of contract extensions under the NBA's extend-and-trade rules. As of October 1, Bridges became eligible for a new deal, sparking significant interest around his potential future earnings. The extend-and-trade regulations provide a unique pathway for players like Bridges, allowing him to sign for up to four total years with a 20% raise in the first year, followed by 5% annual increases. This offers flexibility and significant financial gains for players willing to navigate these waters.
Bridges, who had already secured a four-year, $90 million rookie extension with the Phoenix Suns in 2021, found himself part of a trade on July 6. With two years remaining on his initial deal, he stands to potentially earn around $61.2 million in new money under the extend-and-trade rules. This could be a strategic move, but Bridges also has the option to wait until the next offseason, where he might ink a contract worth approximately $113 million over three new years.
Looking further ahead, starting July 1, 2025, Bridges could leverage the typical veteran extension guidelines. These guidelines allow for a 40% raise in the first new year, followed by 8% annual raises, offering a substantial financial boost. Under this framework, Bridges might secure four additional years on his deal instead of two, potentially guaranteeing around $156 million over four new years, which could total approximately $181 million.
The financial prospects grow even more lucrative for Bridges come the 2026 offseason, where he could sign a five-year deal beginning at 30% of the salary cap with 8% annual raises. Such a deal could potentially maximize his earnings up to $296 million. However, should Bridges opt to sign with another team, his maximum potential contract would be limited to four years with 5% annual increases, still a lucrative prospect but not as favorable as staying with his current team.
Adding to the wave of contract actions, OG Anunoby has re-signed in New York, securing a deal worth $212.5 million. This move reaffirms New York's strategy of locking down key players to build a formidable roster poised to compete at the highest levels of the NBA.
The strategic financial decisions surrounding these players highlight a sophisticated understanding of the NBA's contract and salary cap intricacies. Teams and players alike are finding ways to maneuver within these rules to maximize both financial gain and team potential. For the Knicks, securing Brunson on a long-term deal, and Anunoby’s hefty contract reaffirm their dedication to creating a sustainable, competitive legacy. As for Bridges, his careful navigation of his extension options could set a significant precedent for future negotiations in similar situations.
Ultimately, these moves are a testament to each player’s value and the evolving strategies within the NBA’s financial landscape. With each player and team making calculated decisions, the stage is set for an exciting period of basketball where financial acumen is as critical as on-court performance.