He’s putting his money where his mouth is, agreeing to a contract extension that isn’t necessarily financially advantageous to him.
New York Knicks All-Star forward Julius Randle has agreed to a four-year, $117 million contract extension — elevating his deal’s total value to five years and $140 million, his agents Aaron Mintz and Steven Heumann of CAA Sports told ESPN.
The extension includes a player option on the final season in 2025-2026.
The Knicks’ offseason keeps looking better and better.
Randle could have waited until 2022 free agency, when he would have been eligible for five-year max contract projected to be worth $207 million. By comparison, the extension is a bargain for New York.
Randle’s base salaries:
- 2022-23: $23,760,000
- 2023-24: $25,660,800
- 2024-25: $27,561,600
- 2025-26: $29,462,400 (player option)
- Total: $106,444,800
Each year, Randle can earn a 5% bonus for each of: Making an All-Star team, making the playoffs while playing at least 65 games, making an All-Defensive team. Randle accomplished the first two last season, and if he continues to hit two incentives per year, he’ll earn the cited $117 million.
Randle deservedly won Most Improved Player this year, continuing a long track record of improvement. The 26-year-old sharpened his outside shooting, passing and defense. He did so well to raise the floor of the Knicks’ offense, despite ugly spacing. Randle’s numbers – 24 points, 10 rebounds and six assists per game – and breakout season in New York put him on the All-NBA second team.
Randle got exposed a bit in the playoffs (a reason he might not have gotten the full max as a 2002 free agent). In the Knicks’ first-round loss to the Hawks, Randle scored just 18 points per game while shooting just 28% on 2-pointers and 33% on 3-pointers with more turnovers (five per game) than assists (four per game).
Randle just led the Knicks to their most-satisfying season in years. They’re keeping the good feelings rolling.