Why Jalen Brunson's massive hometown discount is a game-changer for the Knicks

Leon Rose and Co. have been knocking it out of the park this summer as the New York Knicks have been one of the biggest winners of the NBA offseason, re-signing OG Anunoby and acquiring Mikal Bridges from the Brooklyn Nets in exchange for a few draft picks and salary fillers.

On Friday evening, Knicks fans were given another reason to be excited when ESPN’s Adrian Wojnarowski reported that New York’s superstar point guard Jalen Brunson agreed to a four-year, $156.5 million deal.

Had he waited until after the 2024-25 season, he could’ve signed a more lucrative five-year, $269.1 million contract, essentially leaving $113 million on the table. Still, it’s worth noting the extension comes with a player option in the final year, setting Brunson up for a $323 million maximum extension in 2028 or a new five-year, $418 million deal in 2029. 

Brunson shows faith in the Knicks by leaving money on the table

When Brunson joined the Knicks on a four-year, $114 million deal two years ago, many considered it an overpay. Coming off the best season of his career, averaging 28.7 points and 6.7 assists per game and earning his first-ever All-Star and All-NBA selections while finishing fifth in MVP voting, his contract is now looking like the steal of the century. He could’ve easily waited till 2025 and taken a much larger deal, but his decision to sign an extension now is a symbol of his belief in the organization and winning being his main priority. 

Brunson’s decision to sign a four-year extension rather than wait till the next offseason saves the Knicks over $37 million over the next three seasons, keeping the franchise under the second tax apron and providing more flexibility as they build a championship-contending team around him. 

Julius Randle has a player option after this season and becomes extension-eligible on Aug. 3rd. Whether the Knicks decide to let him play out his contract or sign him to an extension, this deal certainly helps make retaining Randle and the rest of this core more plausible.