Brunson signs a 4-year $156.5 million extension with the Knicks

According to NBA insider Woj, New York Knicks star Jalen Brunson has made a significant financial concession by agreeing to a four-year, $156.5 million contract extension with the Knicks.

The original report states: New York Knicks star Jalen Brunson has agreed to sign a four-year, $156.5 million contract extension, an unprecedented financial concession aimed at providing roster flexibility for a championship-contending team. His agent, Sam Rose of CAA, revealed this to ESPN. This deal is $113 million less than the guaranteed amount he would have been eligible for in a year.

Brunson chose the four-year, $156.5 million max contract instead of the five-year, $269 million contract in 2025. This decision significantly impacts the Knicks' ability to maintain their current roster and continue making trades to close the gap to a championship.

Rose stated that this contract will see Brunson earn $37.1 million less per year over the next three years, with a player option for the fourth year. This gives Brunson the opportunity to sign a four-year, $323 million extension in 2028 or a new five-year, $418 million contract in 2029 to make up for the remaining $113 million.

In the 2023-24 season, Brunson averaged 28.7 points (47.9% FG; 40.1% 3PT), 6.7 assists, and 3.6 rebounds in 35.4 minutes per game across 77 games (all starts). He finished fifth in MVP voting for the 2023-24 season, was named to the All-NBA Second Team, and was selected for the NBA All-Star team.