The New York Knicks and guard Immanuel Quickley did not agree to a contract extension ahead of Monday's deadline and he will be come a restricted free agent in the 2024 offseason, according to Ian Begley of SNY.

The Knicks being unable to get an extension done with Immanuel Quickley is significant for a number of reasons. He is their best player off of the bench, and was a finalist for the sixth man of the year last season, losing out to Malcolm Brogdon. If Quickley continues to grow as a player, he will undoubtedly get significant interest as restricted free agent.

Quickley will be able to sign offer sheets with other teams, and if he does so, the Knicks would be able to match the offer to keep him, or let him go to the team who gave him the offer sheet, if Leon Rose and the front office deem the deal to be too expensive.

This will be a situation to watch this season, as Quickley and the team know that his long-term future is uncertain.

The lack of an extension it also important because it makes Quickley easier to move him in a trade. He could be moved without question before the NBA Trade Deadline. If an extension was reached, the “poison pill” provision would have been attached, which creates a wide gap between incoming and outgoing salary in any trade. That makes a deal involving him much more difficult to execute.

Leon Rose and the Knicks are viewed as a solid playoff team, but not a true title contender. Many believe that the Knicks are biding their time until a superstar becomes available, and Quickley is one of their best young assets in a potential deal.

Quickley is beloved by the fanbase and many in the organization, but there is uncertainty regarding his future after today's deadline passed without a deal.