On July 13, Beijing time, according to a report by Woj, Brunson and the Knicks reached a four-year, $156.5 million early contract extension. Brunson could have waited another year for a contract extension, which would have given him up to $269 million over five years, but in order to give the Knicks more financial flexibility and build a championship-consuming roster, Brunson made an unprecedented financial concession and took $113 million less than he signed a year later. Subsequently, the Knicks officially announced this contract extension.

Brunson's agent, Sam Rose, said the contract will be in effect starting with the 2025-26 season, with a fourth-year player option. Brunson can jump out of his contract in 2028 (to meet the 10-year time limit) and be eligible to re-sign a four-year, $323 million max contract, or a five-year, $418 million max contract in 2029, earning back the $113 million he lost this time.

Brunson, 27, was eligible to negotiate and sign a salary cap today, and he and the Knicks reached an agreement the first time. The four-year contracts are $34.94 million for the 2025-26 season, $37.73 million for the 2026-27 season, $40.53 million for the 2027-28 season, and $43.33 million for the 2028-29 season (player option).

Brunson's choice of a four-year, $156.5 million contract with a maximum salary instead of a five-year, $269 million contract after next season has a huge impact on whether the Knicks can maintain the team's cohesion and continue the current rotation to close the gap to the championship. Brunson's contract didn't allow the Knicks to trigger the second line.After Brunson made the sacrifice to choose an early contract extension, Hart joked that a statue should be built for him.

Two years ago, Brunson signed with the Knicks on a four-year, $104 million contract, making it one of the league's most transformative acquisitions of the past decade. After starting his career as a backup point guard with the Dallas Mavericks, Brunson has grown into one of the NBA's most influential players and leaders. Brunson played his best performance in the NBA in 2023-24, being named to the All-NBA Team and finishing in the top five in the MVP vote. He averaged 28.7 points per game and scored + assists a teammate for a record 3,481 points. According to ESPN, Brunson scored 40 points in 11 games during the regular season, becoming the first Knicks player to score at least 40 points and five assists in four consecutive playoff games.

The Knicks have gotten better this offseason and indisputably more expensive. The Knicks signed O.G. Anunoby to a five-year, $212.5 million contract, in exchange for Brooklyn Nets forward Mikal Bridges and the remaining two years, $48 million on his contract.

Brunson has a deep connection with the Knicks, which also reflects his trust in the Knicks. Leon Rose, the Knicks' president of basketball operations, was Brunson's agent before joining the team in 2020. Brunson's father, Rick, was an assistant coach for the Knicks and a longtime client of Rose's time as an agent. The Knicks put Brunson together with his former National Championship teammates from Villanova University.

There have been a few instances in NBA history where stars have taken pay cuts to achieve salary cap flexibility, including: Spurs' Tim Duncan took $11 million less than his cap salary in 2007 in order to keep Ginobili and Tony Parker; The Warriors' Kevin Durant took $10 million less in 2017 to keep Sean Livingston and Andre Iguodala. LeBron James accepted a two-year, $101 million contract this offseason, taking $2.6 million less and avoiding the Lakers triggering the second tier.

Now that Brunson has decided to do the same, can he bring a championship trophy to the Knicks?