Jalen Brunson has agreed to a four-year contract extension with New York Knicks

Jalen Brunson swiftly opted to extend his stay with the New York Knicks, who have improved since his arrival. Brunson signed a four-year contract deal with New York Knicks on Friday, totaling around $156.5 million, according to someone familiar with the situation.

Jalen Brunson could have earned a considerably greater contract by waiting a year. Still, he selected the extension on the first day it was offered to him, providing a financial advantage to the Knicks, whom the point guard has guided to the second round of the playoffs in both of his seasons in New York.

The Knicks refused to disclose the specifics of the agreement. They were initially reported by ESPN, with Brunson's representative informing the organization that his client preferred the deal over a five-year, $269 million contract he could have gotten as a free agent in 2025.

Brunson just had one of the finest seasons in team history, averaging 28.7 points and finished fifth in the NBA MVP vote. That was significantly more than expected when the former second-round selection signed with the Knicks in 2022, with some questioning whether a player who had largely served as a reserve in Dallas was worth more than $100 million.

New York Knicks haven't been in playoffs since 2013

New York Knicks hadn't advanced to the second round of the playoffs since 2013, and Brunson helped them get there in his debut season in New York. Last season, they nearly advanced even further, losing to the Indiana Pacers in Game 7 of the Eastern Conference playoffs when Brunson fractured his hand in the second half. 

Before that, he had a remarkable playoff, with five 40-point games, including a franchise playoff record 47 points in Game 4 of the first round against Philadelphia, and was frequently greeted with chanting of "MVP! MVP!" during his first All-Star season.

The Knicks will be able to better manage their payroll following a busy offseason in which they acquired Mikal Bridges from the Brooklyn Netts and re-signed OG Anunoby to a five-year contract worth over $210 million. Brunson's extension will start with the 2025–26 season. In his two seasons with the Knicks, 27-year-old Brunson has averaged 26.5 points per game.