The New York Knicks and wing Mikal Bridges have reached an agreement on a four-year contract extension valued at $150 million, according to agents Sam Goldfeder and Jordan Gertler. The contract features a player option for the 2029-30 season along with a trade kicker, which adds additional value to the deal. This development follows earlier reports from Frank Isola of SiriusXM NBA Radio, indicating that Bridges had been involved in trade discussions during June.

Bridges was acquired by the Knicks from the Brooklyn Nets on June 25, 2024, in exchange for a substantial collection of draft picks. In joining the Knicks, Bridges reunited with former Villanova teammates Jalen Brunson and Josh Hart, although Donte DiVincenzo was later traded along with Julius Randle to the Minnesota Timberwolves for Karl-Anthony Towns. At the time of the trade, Bridges had two seasons remaining on a four-year contract worth $90,900,000 that he initially signed with the Phoenix Suns in October 2021. Bridges was subsequently traded to the Nets as part of the deal that sent Kevin Durant to Phoenix in February 2023.

The Knicks' decision to acquire the 28-year-old Bridges, which involved a significant investment in future draft assets, suggests a well-defined long-term strategy for his role within the team. With Bridges aboard, three-quarters of the so-called "Nova Knicks"—including Towns—now form a promising core for the franchise. During the 2023-24 season, Bridges established himself as the primary scoring option for the Nets, averaging 19.6 points per game on 43.6 percent shooting, including 37.2 percent from beyond the arc, alongside 4.5 rebounds, 3.6 assists, and 1.0 steals. His defensive prowess adds depth to a gritty Knicks lineup.

In the following season, Bridges averaged 17.6 points on an impressive 50.0 percent shooting, contributing significantly to the Knicks' unexpected run to the Eastern Conference Finals, marking the franchise's first appearance at that stage since 2000. A notable aspect of Bridges’ career is his remarkable durability, having never missed a game in his seven years in the league, averaging 35.8 minutes over the last three seasons.

Despite his statistical success, Bridges has acknowledged that there are moments when his on-court presence could improve. He expressed this sentiment last November, stating, "I got to play better. I’ve been inconsistent." Bridges recognized that he needed to establish a better rhythm with his teammates, indicating that he was still in the process of figuring out his role with the team early in the season.

Bridges played an integral role in the Knicks' playoffs, contributing key baskets and defensive efforts in their series victories against the Detroit Pistons and Boston Celtics. However, his performance in the Eastern Conference Finals against the Indiana Pacers was viewed as less impactful, with some analysts describing it as an "overall underwhelming" series. Despite this, Bridges’ contributions were critical in what has been hailed as one of the best Knicks teams since the 1990s, helping New York to enjoy a successful postseason run. The extension solidifies Bridges' long-term association with the Knicks, positioning the team as a legitimate contender for championship aspirations for the first time in many years.