Mikal Bridges to wait until 2025 for potential four-year Knicks extension
Bobby Marks (ESPN) appeared on Sunday’s Hoop Collective podcast to discuss the Knicks’ recent blockbuster trade for Karl-Anthony Towns. While chatting, he also touched upon the Mikal Bridges contract extension.
Per Marks, New York do not plan to offer Mikal Bridges a contract extension until 2025, despite his eligibility for a two-year, $61 million extension. He explained that the Knicks prefer to wait due to trade flexibility, as Bridges’ current contract limits him to a two-year extension, but next year he could extend for four years.
Marks says around the 11:55 minute mark:
“[MIkal] will wait until next year. Because he’s limited as far as the six-month rule, as far as what he can extend for. Next year, he can extend for four years. It just gives him more flexibility. That could certainly change by Oct. 21. Maybe [the KAT] trade does change that thinking.”
The summer’s trade sent Bridges and a 2026 second-round pick to the Knicks, while the Nets got Bojan Bogdanovic, four unprotected first-round picks (2025, 2027, 2029, and 2031), a protected 2025 first-round pick, a 2028 pick swap, and a 2025 second-round pick. Bridges, joining his former Villanova teammates Jalen Brunson and Josh Hart, is considered a boost for the Knicks’ championship ambitions.
All-Star point guard Brunson did the Knicks a solid by signing a four-year, $156 million extension this off-season. If Jalen had waited a year and entered free agency, he could have secured a five-year, $269 million deal. Mikal Bridges, with two years and $48 million left on his contract, became eligible for an extension on October 1. NBA insider Marc Stein has reported that many believe Bridges will likely take a team-friendly deal, similar to Brunson. Extension talks must happen before the regular season starts, however, and, if Marks is to be believed, we shouldn’t hold our collective breath.
Mikal Bridges’ potential contract extension with the New York Knicks presents both advantages and disadvantages. Extending now would give him financial security and lock him in with team. However, due to the NBA’s six-month trade rule and 120% raise cap, he would be limited to a two-year, $61 million deal. This would leave his 2026-27 salary just under $30 million, which is considered to be below his market value.
Waiting until next summer allows Bridges to sign a four-year extension with up to a 140% raise, potentially securing a deal worth up to $156 million. Additionally, waiting provides flexibility to assess his fit with the team and play his keister off, potentially increase his market value. So, from a financial, it is more advantageous for Bridges to delay negotiations until 2025.
Go Knicks.