Many stars have said they want to play for the Knicks, but few have actually given it a go.
And only Jalen Brunson was willing to shell out over $100 million to remain the marquee player at MSG.
In a gesture that should further endear him to Knicks fans, Brunson signed a four-year, $156.5 million contract extension on Friday.
“Jalen’s signing a contract extension to remain with the Knicks for the long term demonstrates the commitment and passion he has for our team, our fans and this city,” Knicks president Leon Rose said in a statement.
“Since Jalen joined our team two years ago, he has consistently led by example and demonstrated his willingness to sacrifice for this organization, his teammates and the entire Knicks family,” Rose added.
It wasn’t a hugely surprising move given the rumors surrounding Brunson’s eligibility for a contract extension, but it was still shocking from a financial standpoint.
If Brunson had waited until next summer to become a free agent, he could have signed a five-year contract worth about $270 million.
There was some risk in waiting — what if he suffered a serious injury next season? — but the point guard had already established himself as one of the best players when healthy.
“I mean, obviously, you want that sense of security,” Brunson, 27, said last season.
By taking a team-friendly contract, Brunson would also theoretically help the Knicks avoid the dreaded second apron as they contend for titles in the coming years. And from a player’s perspective, the sacrifice would bring relief and maybe even some happiness — assuming the Knicks don’t start losing again.
It’s hard to imagine a better environment for Brunson than New York, with his father as an assistant coach, a longtime family friend (Leon Rose) as team president, the head coach (Tom Thibodeau) as a die-hard fan and friends from college on the team.
The core of him and his teammates — OG Anunoby, Mikal Bridges, Julius Randle, Josh Hart, Donte DiVincenzo and Mitchell Robinson — are all between the ages of 26 and 29. Coming off a 50-win season and a Game 7 loss in the Eastern Conference semifinals, now is their chance. Despite the Knicks’ injury woes, Brunson wasn’t satisfied.
“I think there’s good and bad things about my game,” Brunson said after a playoff scoring spree that rivaled Michael Jordan. “The good is I played well as an individual during the playoffs. The bad is I didn’t play well enough to help my team move forward. I’ll say I got hurt in Game 7 (Brunson broke his hand against the Pacers). I didn’t play well in Game 7. We were up 2-0 and 3-2. So it’s hard to look at things as an individual when you’re not contributing to the team.”
With the notable exception of Julius Randle, most of the Knicks’ top players are under contract through at least the 2025-26 season (Brunson, Anunoby, Donte DiVincenzo, Josh Hart, Mikal Bridges, Mitchell Robinson and Miles McBride).
Randle, who has a $31 million player option for the 2025-26 season, is eligible for a contract extension next month and has expressed a desire to re-sign.
The maximum value of Brunson’s extension is based on next season’s salary and is just $25 million. That’s also a significant underpayment given the NBA’s skyrocketing salary cap and the $60 million annual salary it commands. For example, Brunson will make about $12 million less next season than Anunoby, who signed a five-year, $212.5 million contract this summer.
Brunson’s contract extension begins in 2025-26 and includes a player option after the third year (when he is 31).
At that point, the point guard could make up much of the money he may have missed out on by signing an estimated five-year, $418 million veteran max contract.
Of course, a lot can happen between now and 2028. What we know right now is that Brunson is under contract until at least then — and he got a huge discount to get there.
