New York Knicks guard RJ Barrett warms up before a game against the Minnesota Timberwolves at Madison Square Garden.
RJ Barrett and the New York Knicks are closing in on a nine-figure contract extension, per Adrian Wojnarowski of ESPN.
Barrett, the no. 3 overall pick of the 2019 NBA Draft, was in line for a rookie extension before potentially entering restricted free agency next offseason. Instead, he and the Knicks are reportedly on the verge of agreeing to a four-year rookie extension worth up to $120 million.
If the deal comes to fruition, it could impact the reported discussions between the Knicks and Utah Jazz regarding a trade centered around All-Star guard Donovan Mitchell. Barrett’s extension would raise the trade value of his contract to the average of the extension and his rookie deal, making it costly for the Jazz to request his inclusion in any potential multi-player deal, in both the short- and long-term. Wojnarowski writes that Barrett extension talks entered their final stages after New York and Utah reached a “gulf” they could not cross over the weekend.
After taking a step back last season, will New York’s urgency match Utah’s asking price for its 3-time All-Star?
The Barrett extension takes him out of the mix for a Donovan Mitchell deal but doesn’t take the Knicks out of it – but the price in young assets will likely be high (as we addressed in Sunday’s paper)… https://t. co/7XkHUcdgyZ
— Steve Popper (@StevePopper) August 30, 2022
It’s true that the Knicks gave a Monday deadline to the Jazz to get a Mitchell deal done, otherwise they would sign Barrett. The Jazz understood that deadline. A deal didn’t get done on Monday and the Knicks committed $100 million to Barrett.
— Sarah Todd (@NBASArah) August 30, 2022
Still just 22 years old, Barrett averaged 20.0 points, 5.8 rebounds and 3.0 assists in his third NBA season. The Toronto, Ontario, native has increased his scoring in each season since entering the league, but saw his shooting percentages drop significantly last year. He would become the first Knicks first-round pick to sign a multi-year extension since Charlie Ward.
The Knicks missed the 2022 playoffs in a drop-off season after their surprise run to fourth place in the Eastern Conference in 2020-2021.