The New York Knicks and wing Mikal Bridges have reached an agreement on a four-year, $150 million contract extension, according to agents Sam Goldfeder and Jordan Gertler. This deal, which features a player option for the 2029-30 season and a trade kicker, solidifies Bridges' long-term future with the team.

The contract extension follows speculations regarding Bridges possibly playing on an expiring contract in the upcoming season to chase a more lucrative deal worth closer to $200 million on the open market next summer. Reports indicated that Bridges was included in trade discussions prior to his acquisition by the Knicks, who traded a significant collection of draft picks to the Brooklyn Nets to secure his services on June 25, 2024. Upon joining the Knicks, Bridges reunited with former Villanova teammates Jalen Brunson and Josh Hart, although Donte DiVincenzo was later traded alongside Julius Randle to the Minnesota Timberwolves for Karl-Anthony Towns. At the time of his trade, Bridges had two seasons remaining on a four-year, $90.9 million contract signed with the Phoenix Suns in October 2021, prior to his mid-season transfer to the Nets in exchange for Kevin Durant in February 2023.

Over the previous season, Bridges emerged as the primary option for the Nets in 2023-24, averaging 19.6 points per game on 43.6 percent shooting, including 37.2 percent from beyond the arc, along with 4.5 rebounds, 3.6 assists, and 1.0 steals. His ability as a defensive wing complements the Knicks' grit and style of play effectively. In the subsequent 2024-25 season, Bridges contributed 17.6 points on an impressive 50.0 percent shooting, demonstrating consistency in critical playoff situations, particularly in victories over the Detroit Pistons and the Boston Celtics. However, his performance in the Eastern Conference Finals against the Indiana Pacers was deemed underwhelming by some observers. Despite occasional inconsistency, Bridges remains a durable player, having never missed a game throughout his seven-year career, contributing significantly to the Knicks' success, solidifying their status as a championship contender for the first time in decades.