Since the New York Knicks’ 2022-23 season came to an end, it’s been assumed that Josh Hart would decline his $12.96 million player option for 2023-24 to become a free agent. In an interview with Bleacher Report’s Taylor Rooks a few weeks ago, Hart said that it was a move that he was probably going to make.
However, because Hart and the Knicks agreed to extend the deadline for him to decide on his player option, there’s an increased chance that he’ll decide to opt-in. Understandably, that’s led to questions about why the 28-year-old would decide to opt-in after it was thought that he was going to hit the free-agent market.
ESPN Sources: Josh Hart and the Knicks have agreed to extend a midnight ET deadline for his $12.9M player option until Thursday. Hart, a key trade deadline addition to the Knicks, is a priority to retain on a new deal.
— Adrian Wojnarowski (@wojespn) June 25, 2023
What will happen if Knicks’ Josh Hart opts into player option for 2023-24?
Not only would Josh Hart opting into his player option help the Knicks with their spending this offseason, but it would mean that New York could offer him an extension worth up to four years, $81 million. If that’s what ends up happening, Hart will be locked down to what would essentially be a five-year contract.
The Knicks currently sit $16 million below the luxury tax level, so Hart opting in would be a big plus for New York’s financial flexibility entering 2023-24. It would also open up the Knicks’ access to the full $12.4 million mid-level exception. Keep in mind that an Evan Fournier trade should happen sometime this offseason and he’s owed $18.9 million so that money should be coming off the books.
With free agency set to begin on Friday, Hart and New York will have to come to a decision on his future by Thursday. Regardless of what he decides to do, Josh Hart has made it crystal clear that he wants to play for the Knicks long-term, so there isn’t anything that fans should be worried about.
Predicting where each New York Knicks free agent will play in 2023-24
The New York Knicks have a handful of key players set to hit 2023 NBA Free Agency, and here is where they may be playing on opening night next season.