Jalen Brunson signs $156.5 million contract extension, leaving $113 million on the table in massive Knicks boon

But even in the ideal hypothetical scenario — where Brunson inks a free-agent max contract in 2028 — he can’t recover the roughly $37 million difference over the first three years of the extension. 

“Jalen signing the extension to remain with the Knicks for the long-term shows the dedication and passion he has for the organization, the fans and this city,” team president Leon Rose said in a statement. “Jalen has often called the Knicks his family and we are beyond proud to have him wear and represent our orange and blue for years to come. … Since Jalen joined us two years ago, he has consistently led by example and continues to show a willingness to sacrifice for this organization.” 

By taking the team-friendly deal, Brunson alleviates some Knicks cap concerns and potentially helps them avoid the dreaded second apron — the highest luxury-tax threshold that severely limits a team’s ability to build a roster — as they vie for a title.

According to ESPN, Brunson studied the financial sacrifices of Derek Jeter, Patrick Mahomes and Tom Brady for the “blueprint” of building sustained success around the star’s contract. 

Of course, the agreement Friday wouldn’t be possible if Brunson wasn’t elated playing in New York. It’s hard to imagine a better situation for the point guard.

His father is the assistant coach, his longtime family friend (Rose) is the team president, his head coach (Tom Thibodeau) is a huge fan and his Villanova buddies are on the team. 

The core around him — OG Anunoby, Mikal Bridges, Julius Randle, Josh Hart, Donte DiVincenzo, Mitchell Robinson — are all between the ages of 26 and 29.

It’s their prime window on the heels of a 50-win season and elimination in Game 7 of the Eastern Conference semis, a finish that left Brunson unsatisfied despite a flood of Knicks injuries. 

“I would say there’s pros and cons in how I played,” Brunson said after going on a playoff scoring tear that was comparable to Michael Jordan. “The pros are, I played well individually at some points and time during the playoffs. The cons are, I didn’t play well enough to help my team move forward. You can say I got hurt in Game 7 [against the Pacers, when Brunson fractured his hand]. I wasn’t playing well in Game 7. We had a 2-0 [series] lead and a 3-2 lead. So, it’s hard to look at things individually when you don’t help your team.” 

With the notable exception of Randle, most of the top Knicks players are locked up through at least the 2025-26 season (Brunson, Anunoby, DiVincenzo, Hart, Mikal Bridges, Mitchell Robinson, Miles McBride). 

Randle, who has a $31 million player option for the 2025-26 campaign, is eligible for an extension next month and expressed his desire to re-sign.

He’s eligible for a deal much higher than Brunson’s at four years, approximately $190 million. 

Brunson’s extension max is based on his salary next season, which is just $25 million — another huge underpay given the booming NBA cap with $60 million annual paydays.

Brunson, for instance, will be paid about $12 million less next season than Anunoby, who squeezed out a five-year, $212.5 million deal this summer. 

Brunson will be 31 when he can become a free agent in 2028, when he’d become eligible for the veteran’s max of five years at an estimated $418 million. 

It’s crazy money, more than Brunson probably ever imagined as a second-round pick. But a lot can happen before 2028.

The only given is that Brunson is under contract until at least then. And he gave a huge discount to get there.