2: What the RJ Barrett extension looks like
RJ Barrett signed a four-year, $120 million extension with New York. His extension includes bonuses, which according to SNY’s Ian Begley, “are tied to selections to the All-Star Game, any of the three All-NBA teams or either of the two All-NBA Defensive teams.” Shortly after the 2021-22 season ended, Barrett said that a goal of his is to become an All-Star in 2022-23.
According to Stefan Bondy, the extension is a straight four years that doesn’t include an option in the final season. Out of the $120 million, $107 million is guaranteed, which puts RJ at having the largest contract in the history of the organization (that’s how money works).
RJ Barrett’s $107 million guaranteed means he has the biggest contract in Knicks history, just surpassing Julius Randle’s guarantee ($106 million) and Jalen Brunson’s ($104 million).(Carmelo signed for a larger number but over more years). https://t.co/6L7xQ7augB
— Stefan Bondy (@SBondyNYDN) August 30, 2022
Because it’s a rookie extension, the deal includes a “poison pill” provision. Essentially, that means that since the extension will kick in on July 1, 2023, Barrett can’t be traded until then. That doesn’t mean that RJ can’t be traded, but as Begley wrote, “it creates a wide gap between Barrett’s salary in a trade for the Knicks and the team receiving him in a deal.” There’s only been one player under the poison pill restriction that’s been traded, and it was Devin Harris in 2008.
If you’re still not quite sure about what the poison pill provision is, here’s an explainer video from ESPN’s Bobby Marks.