Breaking News: Knicks Star Takes $113 Million Salary Reduction for Contract Extension
In a rare decision in modern NBA history, Jalen Brunson sacrificed over $100 million to sign a significantly smaller contract extension than he was eligible for.
Adrian Wojnarowski of ESPN reports that Brunson has agreed to a four-year, $156.5 million extension with the New York Knicks, which is $113 million less than he could have received. The contract includes a player option for the fourth year. Had Brunson waited and signed in 2025, he could have secured a five-year, $269 million deal with the team.
If he opts out of his $43.3 million player option in 2028, Brunson could then sign a four-year, $323 million contract. Alternatively, if he exercises the option, he would be eligible for a five-year, $418 million deal in 2029.
Brunson’s decision provides the Knicks with increased flexibility to retain their current roster and pursue additional talent. This strategy is reminiscent of Tom Brady’s approach in the NFL, where the legendary quarterback accepted lower contracts with the New England Patriots to help the team manage their salary cap and secure free agents.
By signing Brunson now, the Knicks are expected to save around $37 million over the next three years compared to what they would have spent if he had re-signed at a higher rate later.
