Mikal Bridges will be eligible to sign a four-year, $156.2 million extension as soon as the 2025 NBA Finals end. If news of him accepting it doesn’t break shortly thereafter, well, the New York Knicks could be in for an awkward, if not problematic, offseason.
Many invariably won’t see it this way. They won’t even want the Knicks to sign Bridges to an extension unless he’s taking less than $156 million.
That’s an intensely flawed way of looking at this situation. Bridges isn’t coming off his best season, having struggled, at times, on both offense and defense for a team that didn’t have the margin for error to cover it up. But the Knicks are in no position to negotiate.
They surrendered control of five first-round picks and one swap to get him. You don’t invest that much in him if you’re not intending to extend him. The prospect of him signing this exact deal, in fact, is a large part of why they gave up so much draft equity to get him.
Bridges would be on the books for around $34.9 million in 2026-27 if he signs an extension. That’s a reasonable rate for someone with his three-and-D-plus-more skill set. Having sticker shock at the initial number is fine. But as of now, a $34.9 million player may not even rank in the top 50 of player salaries by the time 2026-27 rolls around.
So yes, the Knicks need to offer this extension. And they will. There will likely be no negotiating, either. Bridges will have the full-freight offer in front of him after Game 7 of the NBA Finals. News of his signing the deal should follow shortly thereafter. And if it doesn’t, well, it doesn’t signal anything good for New York.
Mikal Bridges could decide to wait for free agency in 2026
Waiting for free agency can be a futile venture for many players. Cap space has dried up over the past couple of years, and most big-time paydays come via extensions.
Still, it can make sense for certain players to hit the open market. Bridges is currently underpaid relative to what he’s capable of doing. Rolling the dice into free agency probably guarantees he’ll get more than a four-year, $156.2 million deal.
Not only will there be more teams with cap space in 2026, but Bridges has the chance to be one of the two or three most sought after free agents, depending on how this summer shakes out. And if he sees himself having that kind of clout, it makes financial sense for him to reject New York’s extension.
Here’s a full breakdown of the maxes he can receive this summer and next:
- Max extension in summer 2025: Four years, $156.2 million
- Four-year max from the Knicks in 2026 free agency: $228.6 million
- Five-year max from the Knicks in 2026 free agency: $296 million
- Four-year max from another team: $219.4 million
Even the baseline four-year max from an outside suitor represents a big difference. That $219.4 million contract would guarantee him an extra $63.2 million over the same time span.
The Knicks must hope Mikal Bridges signs an extension immediately
To be sure, Bridges will not get the max just because he hits the open market. But he could. We know there were four-year maxes on the table for OG Anunoby in 2024 free agency. That forced the Knicks to come over the top with a five-year deal worth $212.5 million.
A similar scenario could play out for Bridges. And while New York would still have the power to keep him, paying him more money per year seriously hamstrings its ability to keep the core of this team together.
That won’t be the case if Bridges signs the extension. Money will still be tight, but the Knicks would have at least another two years before they must grapple with second-apron concerns. That’s why it’s critical they offer Bridges his deal immediately following Game 7.
It’s even more critical that he signs it, and that it’s immediately announced. If it’s not, it’ll force New York to reconcile the cost of keeping him beyond this season, a major problem that could end in Bridges himself or another part of the nucleus getting traded.