The New York Knicks have solidified their future by securing Jalen Brunson with a lucrative four-year, $156 million contract extension. This move showcases the franchise's dedication to building a competitive squad centered around their talented point guard. Brunson's extension firmly places him in the core of the team, ensuring stability and leadership for the Knicks as they aim to make a significant impact in the coming seasons.
Bridges and the Extend-and-Trade Rules
Meanwhile, Mikal Bridges finds himself at an intriguing crossroads. Under the NBA's extend-and-trade rules, which came into play for him on October 1, he has several financial avenues to explore. Bridges had previously secured a four-year, $90 million rookie extension with the Phoenix Suns in 2021, marking his value and potential in the league. However, his trade on July 6 has opened new doors.
The extend-and-trade rules allow Bridges to sign for up to four total years with a 20% raise in the first year of the new deal, followed by 5% annual raises. With two years left on his original contract, this could result in approximately $61.2 million in new money. However, if Bridges decides to wait until the next offseason, he could ink a far more substantial contract. A deal worth approximately $113 million over three new years would be on the table, presenting a significant financial upgrade.
Potential Future Earnings for Bridges
Looking further ahead, starting July 1, 2025, Bridges will have the opportunity to utilize the typical veteran extension guidelines. These guidelines allow for a 40% raise in the first new year, with 8% annual raises thereafter. Such a deal could extend his contract by four additional years rather than just two, potentially guaranteeing around $156 million over those four new years, amounting to approximately $181 million in total.
The most lucrative scenario for Bridges comes during the 2026 offseason. At that juncture, he could sign a monumental five-year deal starting at 30% of the salary cap with 8% annual raises. This contract could potentially be worth up to a staggering $296 million. However, if Bridges opts to sign with another team, his maximum potential contract would be limited to four years with 5% annual raises, portraying the financial advantages of staying with his current team.
OG Anunoby's New Chapter
Adding to the narrative of significant signings, OG Anunoby has also made headlines by re-signing in New York for a substantial $212.5 million. This move further demonstrates the franchise's ambition and commitment to fostering a competitive environment. Anunoby’s re-signing indicates the Knicks' approach to constructing a formidable roster capable of contending at the highest levels of the NBA.
With these key signings and strategic financial maneuvers, the New York Knicks are making bold statements about their intentions and future prospects. As Brunson, Bridges, and Anunoby navigate their respective paths, the financial dynamics and strategic decisions will play crucial roles in shaping their careers and the fortunes of their teams. These moves exemplify the ongoing chess game that is the NBA, where financial prudence, talent management, and strategic foresight coalesce to create opportunities for success and championship contention.