The New York Knicks are mostly done with free agency meaning they are ready for the 2025-26 season. While the Knicks might add one more veteran via a minimum deal, it is unlikely that they add anyone who will impact the rotation. But that doesn't mean there isn't housekeeping left to do. Specifically, Mikal Bridges is extension eligible.
And the idea that New York will look to get a deal done sooner than later is well-established.
Why are Knicks motivated to re-sign Mikal Bridges now?
The Knicks gave up a lot of assets to add Bridges last offseason. Notably, they traded away five first-round picks and a future first-round swap. Granted, the Knicks didn't sacrifice any impact players. But losing Bridges for nothing would represent a major black eye for a team whose championship window is now wide open.
Bridges will enter unrestricted free agency next offseason. And while the Villanova connection is strong in New York, it's unclear if the Knicks would offer the biggest contract and most enticing situation on the open market. Thus, it is incredibly important for the Knicks to lock Bridges down now while there are no other offers with which they must compete.
Knicks leadership recently spoke anonymously at Summer League about their desire to re-sign Bridges this offseason.
“We hope to get something done,” a Knicks front office executive said to members of the media. “When you make the commitment to trade for a player like we did with Mikal, you do it with the intention of them being on the team for a long time.”
Mikal Bridges disappointed in '24-'25 but shouldn't dissuade Knicks
Before discussing numbers, it's important to note that the specifics of a deal shouldn't matter—especially to fans. There is no opportunity cost in signing Bridges to a new contract. In other words, if New York chose to let Bridges walk, they cannot use that money elsewhere due to specifics of the league's Collective Bargaining Agreement (CBA).
Sure, Bridges production didn't meet expectation in 2024-25. He started off incredibly slowly. But he was still an important piece to the Knicks' success. The 28-year-old played in all 82 games, again. And he still performed well, averaging 17.6 points, 3.7 assists, and 3.2 rebounds per game.
While Bridges had a slow start, especially shooting the ball, he shot a respectable 60/37.5/92 shooting splits through the final 20 games of the season. In other words, he settled down and became more comfortable over time.
That's to be expected when a player changes teams and systems. And Bridges looked even better in the playoffs, where he posted similar stats but secured a few playoff wins with crucial defensive plays and big shots.
What might a new Mikal Bridges' contract look like?
The 2025 offseason has been weird thanks to the relatively new CBA. The punitive second apron has resulted in an interesting free-agent environment. It has seen above-average veterans bought out and re-signed elsewhere for bargain prices.
It has also led to a number of younger players like Shai Gilgeous-Alexander and Paolo Banchero signing max extensions. However, Bridges is in a unique situation. He is still very much in the prime of his career. But he doesn't possess unlimited, untapped upside.
Ironically, the most similar player to Bridges who signed a deal this offseason might be Julius Randle. The former Knick signed a three-year, $100 million deal. But Bridges will probably command a bit more.
The seven-year veteran is eligible for a four-year, $156 million deal that can start as high as $34.9 million in the first season. Maybe he takes a slight discount to benefit the team. But it's unlikely he takes anywhere near the discount that Brunson accepted. Regardless, fans should get used to the idea of Bridges signing a $150 million deal.
The Knicks must take another step forward next season. If they fail to advance to the NBA Finals, they might face a major trade that breaks up their core. Bridges, Jalen Brunson, OG Anunoby, Karl-Anthony Towns, and co. are probably the Knicks' best shot to win their first championship since 1973.
If Bridges can achieve a slightly bigger or more consistent role under new coach Mike Brown, the Knicks could be Eastern Conference—and maybe even NBA—champions. If he doesn't succeed, Bridges—along with everyone not named Brunson—could see their names in trade rumors.
