Knicks Rumors: Latest on Jalen Brunson, Julius Randle Contract Extensions in NBA FA

The New York Knicks’ two All-Stars are both eligible for extensions this offseason, but that doesn’t mean they’ll ink long-term deals.

Michael Scotto of HoopsHype reported opinions vary around the NBA regarding whether Jalen Brunson and Julius Randle will sign new deals this summer.

“Some executives around the league wonder if Jalen Brunson would lock in extension money now after his career season,” Scotto reported. “I was under the assumption he’d wait and get more money down the line, but some executives thought it was more plausible that he takes it now than I had anticipated, which I thought was interesting.

“When Julius Randle returned to CAA, many around the league believed it was because he’d eventually do a new deal with the Knicks, given the ties the agency has with the Knicks. However, I don’t think that necessarily means an extension is coming this summer.”

Brunson is eligible for an extension worth $156.5 million over four years. From a financial perspective, it wouldn’t make a lot of sense for him to sign that deal. If he waits until the 2025 offseason and makes an All-NBA team again next season, he could sign a five-year supermax extension worth $314.5 million. Even if Brunson fails to make an All-NBA team in 2024-25, he would still be eligible for a five-year, $269.5 million extension.

No matter which way you slice it, he would be leaving significant money on the table by re-signing now.

Randle is a more interesting case, if only because it makes more sense for him to sign a deal than Brunson but also makes less sense for the Knicks to offer one. The Knicks reached the second round of the playoffs with Randle out due to injury. If they’re going to explore adding a superstar to the roster this summer, Randle will almost certainly be part of any trade talks.

This roster is also going to get vastly more expensive this offseason if the Knicks decide to re-sign OG Anunoby and Isaiah Hartenstein. Those pending free agents will likely top $50 million in annual salary combined, thrusting the Knicks into luxury tax territory for a team that has not made a conference finals.

Allowing Randle to play out his contract could give the front office some much-needed flexibility.