Jalen Brunson (#11) of the New York Knicks dribbles in Game 7 of the NBA Eastern Conference semifinals against the Indiana Pacers at Madison Square Garden in New York City, May 19, 2024. /CFP
Jalen Brunson officially signed a four-year, $156.5 million contract extension with the New York Knicks on Friday. According to his agent, Sam Rose of CAA, the 2024 All-NBA Second Team and All-Star guard agreed to take as much as $113 million less than he is eligible to sign for a year from now.
Brunson, who joined the Knicks on a four-year, $104 million deal in June 2022, had two years left of that contract before he inked the new deal. By choosing the much smaller extension, he enabled the Knicks to keep their payroll below the second-apron level of the salary cap to give them more space for other transactions.
The Knicks traded for Mikal Bridges by sending Bojan Bogdanovic in addition to four unprotected first-round NBA Draft picks for 2025, 2027, 2029 and 2031, a protected 2025 first rounder via the Milwaukee Bucks, and an unprotected 2028 first-round swap to the Brooklyn Nets in June. They also retained OG Anunoby on a five-year, $212.5 million deal.
Jalen Brunson (#11) of the New York Knicks shoots in Game 7 of the NBA Eastern Conference semifinals against the Indiana Pacers at Madison Square Garden in New York City, May 19, 2024. /CFP
Though the Knicks let Isaiah Hartenstein depart for the Oklahoma City Thunder, they kept the main frame of a very competitive franchise that finished in the second place in the Eastern Conference with 50 regular season wins and advanced to the Eastern semifinals last season.
Brunson showed the Knicks that he's the core they can build around after averaging 26.5 points and 6.5 assists per game this season in the past two seasons. He averaged 32.4 points and 7.5 assists per game in the playoffs last season.
Brunson will be eligible to sign a four-year, $323 million maximum extension in 2028 or a new five-year, $418 million deal in 2029.