Jalen Brunson, the New York Knicks' star point guard, has agreed to a four-year extension worth $156.5 million. The deal was announced on July 12, 2024.
Brunson's decision to sign the extension comes after his finest NBA season in 2023-24, during which he earned All-NBA honors and finished top five in the MVP voting. He averaged an impressive 28.7 points per game and scored or assisted on a franchise-record 3,481 points.
Brunson's ties to the Knicks run deep, with their president of basketball operations having been his agent previously and his father being a Knicks assistant coach. In the modern era, All-NBA players like Tim Duncan, Kevin Durant, and LeBron James have taken less than their maximum contracts to help their teams gain salary cap flexibility.
The extension will help alleviate some of the Knicks' cap concerns and potentially prevent them from reaching the second apron. Brunson will be 31 when he can become a free agent in 2028, at which time he would be eligible for a five-year contract worth an estimated $418 million.
Brunson studied the financial sacrifices of athletes like Derek Jeter, Patrick Mahomes, and Tom Brady for a blueprint on building sustained success around a star's contract. His decision to sign the extension was not surprising given the rumblings ahead of his extension eligibility. The move has been met with enthusiasm from Knicks fans and teammates alike.
The Knicks have recently acquired standout forward Mikal Bridges, further bolstering their roster for a potential championship run.