New York City Mayor Eric Adams issued a statement, lauding Jalen Brunson’s bold move to give the Knicks a hometown discount.
On July 12, Brunson agreed to a four-year, $156.5 million contract extension, $113 million less guaranteed than he could sign for if he waited another year.
ESPN’s Adrian Wojnarowski first reported the news.
“Tonight, by all accounts, [Jalen Brunson] not only solidified his legacy with the [Knicks] but in New York City as a whole. But all the legends of the past know legacies aren’t built in contracts and payouts — they’re built with blood, sweat, and your brothers on the court.
Now let’s get that title! #NewYorkForever,” Adams posted on X on July 12.
The Knicks have not won a championship since 1963.
The Impact of Jalen Brunson’s Team-Friendly Deal
According to salary cap expert Yossi Gozlan, Brunson’s new deal was a massive win for the Knicks.
“A max-level player earning ~20% of the cap will do wonders for team building. This gives them a much stronger chance at keeping their top 8 players over the next 3 seasons,” Gozlan wrote on X on July 12.
With Brunson taking a substantial paycut, the Knicks now have the flexibility to build and sustain a championship-contending roster over the next two to three years.
Before Brunson agreed to the team-friendly extension, the Knicks acquired his former Villanova teammate Mikal Bridges. Then they re-signed OG Anunoby to a five-year, $212.5 million deal, the largest contract in franchise history.
The Knicks gave up five first-round picks, including four unprotected, and one pick swap to get Bridges from intra-city rival Brooklyn Nets.
The Bridges-Anunoby wing combo is the Knicks’ counter to the Boston Celtics duo of Jayson Tatum and NBA Finals MVP Jaylen Brown.
In the first year of Brunson’s new deal, the Knicks will have nine players under contract for a total of $153.2 million, which will be more than $50 million below the projected $207.8 million second apron, per The Athletic’s Fred Katz.
Mikal Bridges Strongly Expected to Follow Jalen Brunson’s Lead
Brunson set the tone for what could be a new trend within the organization that will allow the Knicks to keep their core of former Villanova players for the years to come.
According to Forbes’ Evan Sidery, Bridges will likely sign a long-term extension on a team-friendly deal with the Knicks.
“With Jalen Brunson’s record-setting bargain extension complete, the strong expectation is Mikal Bridges will also take a discount on his upcoming new long-term deal with the Knicks. The Villanova duo will be setting up New York to be championship contenders for years to come,” Sidery wrote on X on July 12, shortly after Brunson’s new deal was reported.
Bridges will be eligible to sign a three-year, $113 million extension six months after the Knicks acquired him from intra-city rival Brooklyn Nets for five first-round picks, including four unprotected, and a pick swap.
The 27-year-old Bridges is entering the third season of a team-friendly four-year, $90 million deal he originally signed with the Phoenix Suns.
Brunson and Bridges’ Villanova teammates — Josh Hart and Donte DiVincenzo — on the Knicks roster are also locked in for three more seasons.
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NYC Mayor Eric Adams Issues Statement on Knicks Star’s Bold Move