Today's the day. Julius Randle is officially eligible to sign an extension. The most the New York Knicks can offer is a four-year deal worth up to $181.5 million. He took a pay cut in 2021 when he signed a four-year, $117 million extension.
After the Knicks signed Precious Achiuwa, SNY's Ian Begley reported that it would take "a major shift in thinking" for New York and Randle to agree to an extension.
"I think it would take a major shift in thinking on both sides to get an extension done for Randle when he is eligible early next month"@IanBegley with the latest on the Precious Achiuwa deal and the chances of a Julius Randle extension in August https://t.co/RhAHA0gbmk pic.twitter.com/tdCB4bSOWE
— Knicks Videos (@sny_knicks) July 30, 2024
Fred Katz of The Athletic reported earlier in the offseason that the Knicks weren't trying to trade Randle. On Thursday, he confirmed that's still how New York feels (subscription required) with the forward's extension eligibility date looming:
"This is a team with championship ambitions. Because of that, there is no indication the Knicks want to trade their starting power forward. They saw what happened after the arrival of Anunoby in January when the group reeled off that 12-2 heater, which included annihilations of the healthy Philadelphia 76ers, Denver Nuggets and Minnesota Timberwolves."
Knicks reportedly not trying to trade Julius Randle as he becomes extension-eligible
Katz explained why it would be in New York's best interest if Randle agreed to an extension that involves him picking up his $30.9 million player option for 2025-26. It'd help the Knicks avoid the luxury tax in 2025-26.
If New York and Randle don't agree to an extension, he could decline his player option next summer to become an unrestricted free agent. Earlier this summer, he reiterated his commitment to the Knicks and bringing a championship to the city. While anything can happen, Randle hasn't indicated that he wants to leave New York.
It'll be interesting to see how his extension situation plays out. If one doesn't come before the season starts, that doesn't mean the Knicks will trade him, nor would it mean that he no longer wants to be in New York.
The Knicks have remained loyal to Randle since he signed in 2019. Since arriving in NYC, he's become an All-NBA/All-Star player. It's too soon to cast him to the side.
There have been many questions about how he'll fit in the team's new starting lineup (which has led to trade speculation), but the only way to find out is to keep him around, even if he doesn't sign an extension this summer.