Jalen Brunson signs four-year, $157 million extension with Knicks

Jalen Brunson signs four-year, $157 million extension with Knicks

Jalen Brunson has agreed to a four-year, $157 million extension with the New York Knicks, ESPN NBA insider Adrian Wojnarowski first reported on Friday. This was Brunson’s first day he was eligible to sign the max, but he left over $100 million on the table to re-sign today instead of waiting until next year.

In a largely unprecedented financial concession to give roster flexibility to a contender, New York Knicks star Jalen Brunson has agreed on a four-year, $156.5 million extension, his agent Sam Rose of CAA tells ESPN — $113M less guaranteed than he’s eligible to receive in one… pic.twitter.com/DDJvz7TUlr

— Adrian Wojnarowski (@wojespn) July 12, 2024

Brunson’s new contract will now kick in until the 2025-26 season, beginning at $34.9 million. He will have a player option attached to the final year of his deal worth $43.3 million, per Spotrac. Though he could opt out that summer and sign a contract north of $400 million.

Obviously, $157 million is a lot of money for us folk, but that’s a steep pay cut for one of the best point guards in the sport relative to what he could’ve made next offseason, should he have waited. In one world, there’s a benefit to already having that financial security now and not risking injury. He’s a strong guard, but the 27-year-old is 6-foot-2 coming off a fractured hand injury on his shooting hand.

On the other hand, Brunson was still likely going to get paid in some capacity, regardless of injury. He’s their franchise cornerstone. They got his Villanova teammates–Josh Hart, Donte DiVincenzo and Mikal Bridges–so they were likely always going to pay him.

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The new CBA is going to force more players into taking pay cuts if they choose to fill a rich, deep roster, like Leon Rose has built. Good for Brunson for willingly taking that pay cut … he knows he’s going to get even more sometime down the line with the new TV deal anyway.

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This is a breaking news story. Stay tuned for updates.

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