Josh Hart and the New York Knicks are finalizing a four-year, $81 million contract extension, according to CAA Sports agents Aaron Mintz, Dave Spahn, and Steven Heumann.
His extension will become eligible to sign Thursday. The multi-year deal is worth $94 million through the 2027-28 season, per ESPN’s Adrian Wojnarowski.
“The $81 million is the maximum that Hart can sign for and is 140% off his $12.96 million contract for 2023-24,” wrote Wojnarowski. He will receive $18.1 million in the 2024-25 season.
According to a few NBA betting sites, the New York Knicks hold 14th-ranked odds to win the championship next season in 2024. Sportsbooks are showing better odds for the Miami Heat and Cleveland Cavaliers.
New York Knicks G Josh Hart is finalizing a four-year, $81 million contract extension, Aaron Mintz, Dave Spahn and Steven Heumann of @CAA_Basketball tell ESPN. Deal delivers Hart a total of $94M through 2027-2028 season. pic.twitter.com/PNlhKWka4g
— Adrian Wojnarowski (@wojespn) August 9, 2023
In early June, Hart declined his $12.96 million player option for the 2023-24 season. The option was part of the three-year, $37.92 million deal he signed with the New Orleans Pelicans in August 2021.
New Orleans traded Hart to the Portland Trail Blazers in February 2022. Of course, he was then dealt to the Knicks before last season’s trade deadline, along with Dani Diez and Bojan Dublijevic.
Josh Hart, New York Knicks are finalizing a four-year, $81 million extension worth $94 million through the 2027-28 season; multi-year deal will become eligible to sign Thursday
During a June interview with Taylor Rooks of Bleacher Report, the six-year veteran expressed his love for the Empire State, but he also mentioned that he would consider all his options in free agency.
“We’ll probably decline [the option] and do the free agency time,” Hart said. “My first free agency, I was restricted, and it was ass. I kind of actually cried a little bit. It took like three weeks to get it done. I was like ‘Damn, do people want me in the league?’ I don’t think this free agency will go that way.
“I love New York, and I love the team. And I love the coaching staff, the front office that we have, we have young guys, draft picks, all those sorts of things. I mean, obviously that would be an ideal place for me to just re-sign there and do that. Everything’s perfect on the court, off the court, with family being close to home and all those kinds of things.”
The Villanova Knicks are here to stay.
3 Years/$76.3M — Jalen Brunson (option)
4 Years/$50M — Donte DiVincenzo
5 Years/$94M — Josh Hart pic.twitter.com/Laun8TWHXV
— KnicksMuse (@KnicksMuse) August 9, 2023
Hart made 52 starts in 76 appearances in the 2022-23 regular season. The Villanova product averaged 9.8 points, 7.8 rebounds, 3.8 assists, 1.2 steals, and 32.3 minutes per game. Plus, the Maryland native shot a career-best 52.9% from the floor and 37.2% beyond the arc.
In New York’s 124-106 win over the Brooklyn Nets on Feb. 13, Josh Hart recorded a season-high 27 points, four boards, two assists, and one steal in 28 minutes off the bench. He finished 10-of-14 (71.4%) shooting from the field and drained four 3-pointers.
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