Jalen Brunson gives the Knicks $113 million discount by signing new extension

Apr 11, 2024; Boston, Massachusetts, USA;  New York Knicks guard Jalen Brunson (11) controls the ball while Boston Celtics guard Jaylen Brown (7) defends during the first half at TD Garden. Mandatory Credit: Bob DeChiara-USA TODAY Sports
Credit: Bob DeChiara-USA TODAY Sports

In a remarkable display of team-first mentality, New York Knicks star point guard Jalen Brunson signed a four-year, $156.5 million extension on Friday, according to Adrian Wojnarowski of ESPN. This decision not only solidifies his commitment to the team but also positions the Knicks for future financial flexibility.

Jalen Brunson Prioritizes Team Success with Knicks Extension

By opting for the $156.5 million extension, Brunson foregoes the potential $113 million extra he could have secured by waiting for a five-year, $270 million deal in free agency next year. Currently, Brunson is entering the third year of his four-year, $104 million contract, which counts a modest $25 million against the salary cap. With a player option for the 2025–26 season, Brunson’s new deal is set to replace his current one (starting next season), potentially allowing him earlier access to free agency around the age of 33.

A key detail in the deal is that Brunson will have a player option in the 4th year of the deal, allowing him to recoup the money on a new extension on a four-year, $323M extension in 2028 or a new five-year, $418M deal in 2029 (via Woj).

Jan 27, 2024; New York, New York, USA; New York Knicks guard Jalen Brunson (11) dribbles against Miami Heat forward Caleb Martin (16) during the second half at Madison Square Garden. Mandatory Credit: Vincent Carchietta-USA TODAY Sports
Credit: Vincent Carchietta-USA TODAY Sports

Strategic Financial Impact for the Knicks

This strategic move by Brunson grants the Knicks crucial salary cap relief, enabling them to extend other key players or pursue additional free-agent talent. The team has already made significant moves by extending OG Anunoby and acquiring Mikal Bridges, who will also require a new contract in two years.

Brunson’s Stellar Performance and Leadership

Brunson had an outstanding season, averaging 28.7 points, 3.6 rebounds, and 6.7 assists while shooting .479 from the field and .401 from three-point range over 35.4 minutes per game. His durability was on full display as he played over 70 games for the third time in his career and finished fifth in MVP voting. During the playoffs, he upped his game even further, averaging 32.4 points, 3.3 rebounds, and 7.5 assists, proving himself as a formidable leader on the court.

May 19, 2024; New York, New York, USA; New York Knicks guard Jalen Brunson (11) brings the ball up court against the Indiana Pacers during the third quarter of game seven of the second round of the 2024 NBA playoffs at Madison Square Garden. Mandatory Credit: Brad Penner-USA TODAY Sports
Credit: Brad Penner-USA TODAY Sports

Building a Contender Around Brunson

With Brunson at the helm, the Knicks have constructed a robust roster featuring significant depth. Key bench players like Josh Hart and Donte DiVincenzo will continue to play vital roles in the Knicks’ rotation, aligning with the front office’s strategic vision. Brunson’s decision to prioritize the team’s championship aspirations underscores his dedication to bringing a long-awaited NBA Finals victory to a franchise that has not seen one in over half a century.

Knicks’ Ongoing Roster Enhancements

Looking forward, the Knicks remain active in the market for a big man to complement Mitchell Robinson, having shown interest in Walker Kessler of the Utah Jazz and Jalen Duren of the Detroit Pistons. This ongoing search reflects the team’s commitment to building a comprehensive and competitive lineup capable of challenging for the highest honors in the NBA.

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