The New York Knicks have formally announced a contract extension with wing Mikal Bridges, securing his services for four additional years at a value of $150 million. This agreement includes a player option for the 2029-30 season and a trade kicker, as reported by agents Sam Goldfeder and Jordan Gertler. Some NBA executives speculated that Bridges might have opted to play on an expiring contract for the upcoming season in hopes of securing closer to $200 million on the open market next summer.

This contract comes on the heels of previous reports regarding Bridges' potential availability in trade discussions, as highlighted by Frank Isola from SiriusXM NBA Radio. The Knicks acquired Bridges from the Brooklyn Nets on June 25, 2024, parting with a significant number of draft picks. With this move, Bridges rejoined his former Villanova teammates, Jalen Brunson and Josh Hart, although Donte DiVincenzo was subsequently traded along with Julius Randle to the Minnesota Timberwolves for Karl-Anthony Towns. At the time of the trade, Bridges had two seasons and $48.2 million left on a prior four-year contract worth $90.9 million signed with the Phoenix Suns in October 2021, following his own trade from the Suns to the Nets as part of the Kevin Durant deal in February 2023.

Bridges, now 28 years old, is recognized as a critical component of the Knicks' long-term strategy, contributing to a squad that looks poised for future success. As the leading scorer for the Nets during the 2023-24 season, he averaged 19.6 points per game on 43.6 percent shooting while also contributing 4.5 rebounds, 3.6 assists, and 1.0 steals. A versatile and agile defensive wing, Bridges complements the Knicks' gritty style of play. In the 2024-25 season, he averaged 17.6 points on an impressive 50.0 percent shooting, alongside 3.7 assists and 3.2 rebounds, playing a pivotal role in guiding New York to the Eastern Conference Finals for the first time since 2000. Notably, Bridges has never missed a game in his seven-year career, averaging 35.8 minutes per game over the last three seasons, a testament to his durability and fitness.

Despite occasional inconsistency in performance, Bridges has acknowledged the need for improvement. He has expressed a desire to find a rhythm within the team and rectify moments of subpar play. His contributions in the playoffs were instrumental, particularly in the Knicks' series victories over the Detroit Pistons and the Boston Celtics, where he made crucial shots and significant defensive plays. However, he encountered challenges during the Eastern Conference Finals against the Indiana Pacers, which was characterized as an 'overall underwhelming' series for him. Regardless, Bridges' presence has been vital to the Knicks, who are now seen as serious contenders for an NBA championship for the first time in decades.