Julius Randle and the New York Knicks opting to go with a long term extension of four-years and $117 million now instead of next offseason was the perfect choice for both sides.

Let's start with the Knicks.

New York could've waited another year to see if Randle's play was similar to this past year or if last season proved to be an outlier. Randle really burst onto the scene and made his first all-star and all-pro team in 2020. It was a sight for sore eyes for Knicks fans as the squad, led by Randle, went 41-31 and made the playoffs for the first time in 8 years.

It's a win for the Knicks for one big reason, had they waited, and Randle still produced the same, he would've been in line for a much heftier payday at around $200 million. Inking him to an extension now gives New York plenty of flexibility moving forward in the summer's to come as they look to continue to add and build a powerhouse.

If Randle stays the course as the same Randle from a year ago, the Knicks will be getting a bargain deal for their all-star forward.

On the flip side of the coin, this is a clear-cut win for Randle and his side as well.

Julius could've waited until next summer to hit free agency and secured the bag with the Knicks or somewhere else. However, there are plenty of risks involved with that.

What if Randle regresses? Keep this in mind: last season Randle averaged the most points, rebounds, assists and steals per game in his entire career. Each category alone were career highs in 2020 for a guy in his seventh season in the NBA. He also shot his highest percentage from three-point range and the free-throw line in his career as well. The numbers were staggering and paled in comparison to what he had done the previous six seasons with the Knicks, Pelicans and Lakers.

Even if he doesn't regress, the injury bug can strike at anytime. Remember this is the same Julius Randle that broke his leg in his rookie debut. Outside of that injury though, Julius has been incredibly durable and available throughout his career. However, if Randle were to suffer a significant injury, his free agency market would weaken significantly. Signing now gives him security for the long run and now he doesn't have to worry about any of it.

Look at Kawhi Leonard for a reference. He suffered an ACL injury at the end of the Clippers' playoff run and still opted for free agency. The big difference is Leonard is an established superstar who has produced year after year after year. Randle hasn't earned that quite yet.

The Knicks locked up their all-star forward for cheaper than what they would've had to fork over next summer. Meanwhile, Randle now has the assurance of job security now while not having to worry about all the pressure of staying healthy and backing up his play from last year. A win-win for both sides.