The New York Knicks and forward Mikal Bridges have reached an agreement on a four-year contract extension worth $150 million, as confirmed by agents Sam Goldfeder and Jordan Gertler. This deal includes a player option for the 2029-30 season and incorporates a trade kicker, indicating a strategic plan for the player in the future. Some NBA executives speculated that Bridges might have played out the remaining year of his previous contract in order to maximize his value on the open market, potentially aiming for a contract closer to $200 million next summer.

Bridges was acquired by the Knicks from the Brooklyn Nets on June 25, 2024, in a significant trade that involved a substantial number of draft picks. This acquisition reunited Bridges with his former Villanova teammates Jalen Brunson and Josh Hart. However, Donte DiVincenzo was later traded alongside Julius Randle to the Minnesota Timberwolves for superstar Karl-Anthony Towns. At the time of the trade, Bridges still had two seasons remaining on a four-year, $90.9 million contract originally signed with the Phoenix Suns in October 2021. After that, Bridges was traded to the Nets as part of the deal that sent Kevin Durant to the Suns in February 2023. The Knicks' investment in Bridges reflects a long-term vision for building their roster around him, as well as Brunson and Towns, constituting a formidable core moving forward.

During the 2023-24 season, Bridges emerged as a prominent scoring option for the Nets, averaging 19.6 points per game on 43.6 percent shooting, including 37.2 percent from beyond the arc, along with 4.5 rebounds and 3.6 assists. Renowned for his defensive capability, Bridges fits seamlessly into the Knicks' tough-minded team culture. In the 2024-25 season, his contributions continued, with averages of 17.6 points on 50.0 percent shooting, alongside 3.7 assists and 3.2 rebounds, helping lead the Knicks to their first Eastern Conference Finals appearance since 2000. Moreover, Bridges has maintained an ironman status in the NBA, having never missed a game in his seven-year career, with a remarkable average of 35.8 minutes on the court over the past three seasons. However, he has experienced some inconsistency for which he himself acknowledged the need for improvement. Despite mixed performances in the Eastern Conference Finals against the Indiana Pacers, where his impact was described as 'overall underwhelming,' Bridges played a crucial role in the Knicks' postseason victories over the Detroit Pistons and Boston Celtics, making significant contributions both offensively and defensively. Now, with his long-term commitment to the Knicks, Bridges adds to a team that appears poised to contend for the championship for the first time in decades.