On Monday, New York Knicks forward RJ Barrett signed a four-year contract extension worth up to $120 million, and the deal also includes bonuses. The deal starts at $107 million.
His new rookie extension is tied to All-Star selections, All-NBA and All-Defensive Team honors. Not to mention, games played is another incentive. Knicks president Leon Rose trusts his wing will remain on the court.
For the most beneficial part of this deal, the Knicks cannot trade Barrett until January 15, 2023, considering the wing will have veto power over any potential trade.
Bonuses for RJ Barrett’s rookie extension are tied to All Star selections, selections to the 3 All-NBA teams & NBA All-Defensive teams, sources tell SNY. Sources confirm Barrett’s extension is for 4 years and worth up to $120 million, including those bonuses. ESPN 1st reported.
— Ian Begley (@IanBegley) August 30, 2022
At the moment, Barrett’s guaranteed amount of this contract is unknown. The signing has strings attached, but this deal favors both sides. According to NBC Sports, the four-year signing is partially guaranteed.
Additionally, Barrett was selected third overall by the Knicks in the 2019 NBA Draft. Then, the forward signed a rookie contract with the team.
In his rookie 2019-20 season, the Duke product averaged 14.3 points, 5 rebounds, 2.6 assists and 1 steal per game in the Big Apple. Plus, he shot 40.2% from the field and 32% from beyond the arc.
RJ Barrett’s four-year contract worth $120 million includes bonuses
Following his first year, Barrett averaged 17.6 points, 5.8 rebounds and 3 assists per game in 72 appearances of the 2020-21 season. He finished 44.1% shooting from the floor and 40.1% from downtown.
Last season, in 70 games played with the Knicks, Barrett averaged a career-high 20 points per game. While shooting 40.8% from the floor and 34.2% from 3-point range, the third-year player also averaged 5.8 rebounds and 3 assists per game.
On February 25, 2022, in the Knicks’ 115-100 loss to the Miami Heat, the forward scored a career-high 46 points in 38 minutes of action. He shot 13-of-22 (59.1%) from the floor.
During this offseason, former Dallas Mavericks guard Jalen Brunson signed a four-year, $104 million deal with the Knicks. Brunson is guaranteed the full amount, per Spotrac. This might explain why Barrett wasn’t offered a fully-guaranteed contract.
While Maple Mamba has yet to receive an All-NBA honor or All-Star selection, he’s still young. In fact, Barrett is the Knicks’ first draft pick to sign a multi-year contract extension after his rookie deal since Charlie Ward in 1999.
At 22 years old, he’s the youngest $100 million player in franchise history.
The Knicks have until the February 2023 trade deadline
As for the Donovan Mitchell trade rumors, the Knicks would have to send out a minimum of $24.7 million in assets to acquire the three-time All-Star from the Utah Jazz. For the time being, Barrett’s spot is secured.
He holds leverage until mid-January 2023.
Furthermore, Jazz executive Danny Ainge is demanding four first-round draft picks for Mitchell. And their salary cap is not an issue. If necessary, they can consume as much as an additional $38 million in a blockbuster trade.
Even if RJ Barrett struggles to average over 20 points per game next season, at least he now has Brunson. The Knicks have not advanced to the second round of the playoffs since the 2012-13 season.
Of course, New York finished its regular season 54-28 (.659) in 2013. After missing the playoffs last season, expectations will be high in 2023.
Regarding Barrett’s contract, it’s not like he needs the added bonuses. He’s set for life.
