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the Knicks have agreed to sign Julius Randle on a contract extension, adding four years to the remaining season of his existing contract, agents Aaron Mintz and Steven Heumann have told ESPN’s Adrian Wojnarowski. The deal will include a player option for 2025/26, according to Wojnarowski.
While Wojnarowski reports that the four-year extension will be worth $ 117 million, that figure includes some incentives – the extension is expected to have a base value of around $ 106.4 million and could peak at just a little. over $ 122 million if Randle earns all of his bonuses in each season of the deal.
As ESPN’s Bobby Marks (via Twitter), those incentives are tied to making the playoffs, getting an All-Star nod, and making it into the All-Defense squad. Randle won the first two in 2020/21.
Randle, 26, had his best year as a pro in 2020/21, setting new career records in PPG (24.1), RPG (10.2), APG (6.0) and 3PT% ( 0.411), among several other categories.
The former seventh pick overall has appeared in all but one regular season game, averaging 37.6 minutes per game, an NBA high and helping lead the Knicks to a No.4 seed in East and in their first playoff spot since 2013. He was named the Most Improved Player for the 2020/21 season and is part of the All-NBA second team.
Because Randle would be eligible for a longer, more lucrative contract if he waited until 2022 to achieve free agency, there was some uncertainty over his willingness to discuss an extension with the Knicks this summer. However, Wojnarowski writes that the former Laker and Pelican was looking forward to a long-term commitment to a team and a city “he came to love”.
Randle also wanted to give the Knicks some financial flexibility rather than pushing for more pay in a year, according to Marc Berman of the New York Post and Ian Begley of SNY.tv (Twitter connections). Of course, signing a new contract now gives him some security in the event of injury or regression next season.
It’s been a busy week for the Knicks, who have agreed to multi-year deals with free agents Evan Fournier, Alec burks, Nerlens Christmas, and Derrick Rose. All of these players sign three- or four-year contracts with squad options last season. The club also intend to sign Kemba walker, which is expected to get waivers shortly after entering into a buyout deal with the Thunder.
Randle’s deal represents one of many lucrative contract extensions agreed around the NBA this week. Stephen curry (Warriors), Bring young people (Falcons), Jimmy butler (Heat), and Shai Gilgeous-Alexandre (Thunder) have all agreed to long-term deals worth well in the nine digits, while Luka Doncic (Mavericks) is set to finalize an extension after the Olympics.
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