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The New York Knicks and starting forward Mikal Bridges have agreed on a four-year, $150 million contract extension that keeps him with the franchise through the 2029-30 season, according to Shams Charania of ESPN.
As he entered the offseason with just one year left on his contract, it was expected that Bridges would reach a long-term agreement with the Knicks. When New York acquired him from the Brooklyn Nets before the 2024-25 season, the organization did so with the intention of extending him this summer on a deal that is both favorable to the team and reflective of his value.
This new contract with the Knicks will see Bridges make an annual average value of $37.5 million. The 28-year-old wing was also given a player option for the final year of the contract and a 15 percent trade kicker that will activate should New York part ways with him over the next several years.
Bridges accepted slightly less than the $156 million maximum he could have received from the Knicks this offseason to help the team with its financial flexibility.
Jalen Brunson made a similar decision in 2024 when he ultimately accepted $113 million less to help New York build their roster. By making this decision, Brunson allowed the Knicks to acquire Karl-Anthony Towns and now extend Bridges on a long-term deal.
Although it may not seem like Bridges took a significant discount compared to the maximum he could've received, this small difference allows the Knicks to maintain flexibility under the second apron for the foreseeable future while building the back half of their roster.
The Knicks have gone all-in on their potential to win a championship, and they are looking to maximize their immediate future with this core of Brunson, Bridges, Towns, OG Anunoby, and Josh Hart with the Eastern Conference wide open entering the 2025-26 season.
All five players are now under contract through the 2028-29 season, giving the Knicks a clear title-pursuit window to operate within.
This offseason, the Knicks have been busy putting together what they believe is the best roster and staff in the Eastern Conference. Aside from signing Guerschon Yabusele and Jordan Clarkson for extra depth in free agency, the Knicks also made a key coaching change by replacing Tom Thibodeau with Mike Brown.
Despite Thibodeau's success in New York, there was a need for a new, motivating voice who could give off the same passion and energy as his players display on the court. That is why the Knicks chose Brown, a two-time NBA Coach of the Year with four championships to his name as an assistant with the San Antonio Spurs (one title) and the Golden State Warriors (three titles).
Now that Bridges' contract situation is locked in, the Knicks will turn their attention to building off their first trip to the Eastern Conference Finals since 2000. The Knicks have won at least 50 games in back-to-back years for the first time since the 1994 and 1995 seasons.
In 82 games last season, Bridges averaged 17.6 points, 3.7 assists, and 3.2 rebounds per game while shooting 35.4 percent from 3-point range. He has never missed a game over his seven NBA seasons, which is why many label him as the league's “Iron Man.” Bridges will look to continue his streak with a clean bill of health entering the 2025-26 campaign.
