Jalen Brunson is staying with the Knicks on a massive discount, according to multiple reports. The Knicks star guard agreed to a four-year, $156.5 million extension on Friday. By signing this contract now instead of next offseason, the All-NBA Second Team selection is leaving more than $100 million in guaranteed money on the table. Brunson would have been eligible for a five-year, $269 million extension next summer.
That’s a $113M sacrifice that will be a massive help in the Knicks’ ability to keep this team — which is about to become extremely expensive in the coming years — together for the long term. The Knicks’ OG Anunoby, Julius Randle and Mikal Bridges will join Brunson in making more than $23M next season.
According to ESPN, the deal will cost Brunson $37M over the next three years, but he could be in position to recoup some of this money on a four-year, $323M extension in 2028 (his new contract comes with a player option in the fourth year) or a new five-year, $418M deal in 2029. Still, a lot can happen between now and 2028 or 2029. Right now, Brunson is sacrificing an extreme amount of money for the betterment of his team. It’s a selfless move by one of the best players in the NBA.
Here’s more from CBS Sports’ Sam Quinn:
Brunson has two primary reasons for leaving the money on the table. The first would be security. He can guarantee himself the $156.5 million by signing this week if he wants to. A lot could happen before the $269 million becomes available next offseason. He could get hurt or see his value decline in other ways. He also knows just how restrictive this new CBA is, and by signing for less, he would help the Knicks avoid the second apron and keep their team together to compete for championships.
CBS Sports will have more on this breaking news story soon.
