The New York Knicks have reached an agreement with wing player Mikal Bridges for a four-year contract extension valued at $150 million. This agreement includes a player option for the 2029-30 season and incorporates a trade kicker, as reported by agents Sam Goldfeder and Jordan Gertler and shared by Moneyline.

Prior to finalizing this extension, there was speculation among NBA executives regarding Bridges potentially playing the next season on an expiring contract in hopes of pursuing a closer to $200 million deal in the upcoming free agency period. This comes on the heels of reports indicating that Bridges had surfaced in trade discussions back in June. The Knicks acquired Bridges from the Brooklyn Nets on June 25, 2024, sending a significant number of draft picks in return. After joining the Knicks, Bridges reunited with former Villanova teammates Jalen Brunson, Josh Hart, and Donte DiVincenzo, although DiVincenzo was later traded along with Julius Randle to the Minnesota Timberwolves for Karl-Anthony Towns.

At the time of his trade, Bridges had two seasons and $48.2 million remaining on a four-year, $90.9 million contract signed with the Phoenix Suns in October 2021. He was previously traded to the Nets as part of the Kevin Durant deal in February 2023. The decision to acquire Bridges for a substantial package of draft picks indicates that the Knicks had a long-term vision for his role within the organization. As a result, the newly formed core, featuring Bridges alongside three-quarters of the 'Nova Knicks' in addition to Towns, is poised to compete in the league for the foreseeable future. During the 2023-24 season as the Nets' leading scorer, Bridges averaged 19.6 points per game on 43.6 percent shooting, including 37.2 percent from three-point range, along with 4.5 rebounds, 3.6 assists, and 1.0 steals per game. His defensive capabilities complement the gritty style of play exhibited by the Knicks. In the 2024-25 season, Bridges' performance continued to shine, as he averaged 17.6 points on 50.0 percent shooting, 3.7 assists, and 3.2 rebounds per game, playing an instrumental role in leading New York to the Eastern Conference Finals—the team's first appearance in this stage since 2000.

Remarkably, Bridges has remained durable throughout his seven-year career, earning a reputation as the NBA's 'iron man' by never missing a game. His average of 35.8 minutes per game over the last three seasons, including 37.0 minutes in the 2024-25 season, underscores his reliability on the court. However, he has acknowledged inconsistencies in his performance, noting the need for improvement to enhance his contributions to the team. In a statement reflecting on his play, Bridges admitted, 'I got to play better. I’ve been inconsistent. I’ve had some games where I’ve played good, some I haven’t. Just got to find a rhythm within the team.' Regardless of some ups and downs, Bridges proved to be a pivotal asset for the Knicks during their playoff series wins over the Detroit Pistons and Boston Celtics, notably making crucial shots and defensive plays. Although he faced challenges during a six-game series loss to the Indiana Pacers in the Eastern Conference Finals, being characterized as 'overall underwhelming' by observers, Bridges' contributions fundamentally aided the Knicks' successful postseason campaign. With this contract extension, Bridges is solidified as a long-term fixture for the Knicks, strengthening a team that appears to be a legitimate championship contender for the first time in decades.