The New York Knicks and forward Mikal Bridges have reached an agreement on a four-year contract extension valued at $150 million, as confirmed by agents Sam Goldfeder and Jordan Gertler. This deal includes a player option for the 2029-30 season and is structured with a trade kicker. According to insights from various NBA executives, there were speculations that Bridges might play the upcoming season on an expiring contract with the aim of capitalizing closer to $200 million on the open market next summer.

The contract extension follows Bridges' trade from the Brooklyn Nets to the Knicks on June 25, 2024, during which New York sent a considerable assortment of draft picks to acquire him. This transition reunited Bridges with his former Villanova teammates, including Jalen Brunson and Josh Hart, while Donte DiVincenzo was later traded to the Minnesota Timberwolves alongside Julius Randle in exchange for star player Karl-Anthony Towns. At the time of the trade, Bridges had two seasons remaining on a four-year contract originally signed with the Phoenix Suns in October 2021, worth $90.9 million. The Suns had traded him to the Nets in February 2023 as part of the deal for Kevin Durant.

The Knicks' acquisition of the 28-year-old Bridges indicates a strategic long-term vision for the player within the franchise. As a core member of the team alongside Brunson, Hart, and Towns, Bridges now plays a pivotal role in a squad that aims for sustained success. In the 2023-24 season, Bridges emerged as the Nets' top scoring option, averaging 19.6 points while shooting 43.6 percent from the field and 37.2 percent from beyond the arc, in addition to contributing 4.5 rebounds and 3.6 assists per game. Known for his defensive prowess, Bridges fits seamlessly into the Knicks' gritty playing style. During the subsequent 2024-25 season, he averaged 17.6 points on an impressive 50.0 percent shooting, further aiding New York in achieving a significant milestone by reaching the Eastern Conference Finals for the first time since 2000.

Bridges is noted for his durability, having never missed a game in his seven-year career, an achievement underscored by his average of 35.8 minutes played per game over the last three seasons. Despite some inconsistencies in performance, Bridges has acknowledged the need to refine his game. In remarks made last November, he expressed, 'I got to play better. I’ve been inconsistent. Just got to find a rhythm within the team.' He played a crucial role in key playoff victories against the Detroit Pistons and Boston Celtics, showcasing his ability to make essential plays in high-pressure situations. However, his performance in the Eastern Conference Finals against the Indiana Pacers was deemed underwhelming by some observers. Ultimately, Bridges has become a significant figure in what is arguably the best Knicks team in decades, and his long-term presence is expected to enhance the franchise's competitiveness in pursuit of a championship.