Jalen Brunson was quickly becoming the king of New York's modern sports culture, but after giving the Knicks what will likely amount to a $37 million discount on the four-year contract extension he signed Friday, Brunson might be on his way to an even bigger title: most beloved Knick ever.
That's a behemoth of a statement, and it's probably not true quite yet. Patrick Ewing still feels like the guy with Walt Frazier and Willis Reed right alongside or behind him.
Still, Brunson, after just two years in the Big Apple, is positioned to take Ewing's throne sooner than later. Not only because of this significant bit of organizational philanthropy that will likely allow the young core of this team to stay together for potentially the next half decade but due to the entire city of New York watching him him evolve from the 2022 free agent that everyone thought was getting overpaid into a full-fledged superstar.
This Knicks fan base had reason to believe it was going to land LeBron James in 2010. Instead, New York traded the farm for Carmelo Anthony and won just seven playoff games over the next 10 seasons. This is a marquee franchise if there ever was one, and yet, Kevin Durant announced to the world that it wasn't cool to play for the Knicks as he and Kyrie Irving spurned them for their neighbor, the Brooklyn Nets, in 2019.
Brunson was just coming off his rookie season with Dallas at that point, and there was no indication that he was on a path to be anyone's franchise player, let alone one in New York. Again, when the Knicks got him in 2022, despite his high level of play with the Mavericks, it was widely regarded as a reach to pay him $104 million. It turned out to be one of the league's biggest bargains.
The overwhelming majority of players that outplay the first contract extension of their career -- especially to the extent Brunson has done so -- would be looking to secure as much money as possible on their next deal. But Brunson has potentially sacrificed as much as $113 million for the team.
Now, that number requires some context. It's really only $37 million over the next three years as outlined here; it was always unlikely that Brunson would commit to the Knicks, or anyone, beyond the summer of 2028. At that point, as a 10-year veteran, he will become eligible for the full max at 35% of the salary cap, which based on future cap projections, could equate a mind-boggling five-year extension worth more than $417 million.
Brunson definitely had his own financial motivations to sign this extension in the summer of 2024 rather than wait to the summer of 2025. That would've pushed his subsequent free-agent summer to 2029, a year beyond the minimum amount of time he now needs to wait to become eligible for his absolute maximum.
The bottom line: Even if Brunson is taking a calculated risk more directly aimed at maximizing his own ultimate payday, the prevailing perception is that he just gave up a king's ransom in the name of his team. Both are actually be true. There is no guarantee that Brunson won't get hurt, or even see his future value decline due to unforeseen market forces, and never actually realize these expected payoffs.
Perception, in this case, trumps reality. Given the money NBA superstars earn these days, there is nothing easier to get behind than a major name in a major city giving up major cash so his team can flourish. Tom Brady did it. Tim Duncan did it.
A rising tide lifts all boats, and the Knicks are definitely on the rise after trading for Mikal Bridges and re-signing OG Anunoby. This is a legitimate championship contender.
By surrendering this short-term money, Brunson is effectively ensuring that the Knicks are not a one- or two-year wonder that ultimately can't stay together long enough to realize their full potential. Team president Leon Rose waited this thing out making smart, shorter-term commitments and saving his trade capital for the right moves in Bridges and Anunoby, but Brunson's discount deal is what gives a half-decade run a realistic outlook in this new second-apron world.
It's almost impossible to put a value on what that means to a Knicks fanbase that has been yearning for a savior. Carmelo didn't work out. LeBron, KD and Kyrie, they all said no. Brunson, after admitting he would have stayed with the Mavericks had they offered him the $55 million for which he was eligible to sign, has become the surprise superstar nobody saw coming; the gift that, whether in the form of his basketball or contractual heart, keeps on giving.
New York loves him for this -- even more than it already did. Eventually, probably more than it has ever loved any Knicks player.
