Jalen Brunson, Knicks Agree To $156 Million Extension

According to NBA insider Adrian Wojnarowski of ESPN, Jalen Brunson is signing a four-year, $156 million extension with the New York Knicks. 

Full ESPN story on Jalen Brunson’s historic $156.5M extension with the Knicks https://t.co/iWAhly2G8I

— Adrian Wojnarowski (@wojespn) July 12, 2024

Brunson is leaving $113 million on the table. 

Brunson will make $24.9 million next season. He averaged 28.7 points, 3.6 rebounds and 6.7 assists for the Knicks in 2023-24 while shooting 47.9% from the field, 40.1% from beyond the arc and 84.7% from the free-throw line. 

In Game 7 of the Eastern Conference Semifinals, Brunson fractured his left hand against the Indiana Pacers. He finished the 2024 playoffs with averages of 32.4 points, 3.3 rebounds and 7.5 assists. 

Brunson has career averages of 16.9 points, 3.2 rebounds and 4.7 assists with the Dallas Mavericks and Knicks. He was the 33rd overall pick in the 2018 NBA Draft out of Villanova.

NBA reporter Fred Katz of The Athletic was the first to report about Brunson potentially taking a pay cut. Brunson was not super max eligible because he signed a free-agent contract with the Knicks in July 2022.

The lefty signed a four-year, $104 million contract with New York.

“The Knicks can’t make their official offer until Friday, but he knows it’s coming,” Katz wrote. “And to this point, according to a league source, signing the extension is still under consideration. If Brunson were to take it, cementing a deal that would promise him nine figures less than one he could receive as a free agent a year from now, it would do wonders for the Knicks — and not because it places extra dollars in James Dolan’s pockets.

“The NBA limits how much players can earn in extensions. Brunson can start at no more than 140 percent of his previous year’s salary. He would play out the 2024-25 season, which is the final year of his current deal. The four-year extension, worth $156.5 million, would kick in after that, taking him through 2028-29. But if Brunson were to wait until 2025 free agency, he would be eligible to sign a max contract, worth a projected $269.1 million over five years.

“That’s a difference of $113 million guaranteed. It’s a $39.1 million average annual value in the extension versus a $53.8 million one in the free-agent contract. And it’s possible the difference in money is too large, and Brunson waits until next summer to earn his quarter-billion. However, he’s considering the other scenario, too.”