Julius Randle’s breakout season with the Knicks in 2020-21 is getting him paid.
The first-year All-Star has reportedly agreed to a four-year, $117 million contract extension with New York — pushing his previous agreement to a total of five years and $140 million, per ESPN NBA insider Adrian Wojnarowski.
The first season of his extension will start at $23.76 million and increase by intervals of 8% percent each year. All-Star, postseason and All-Defense bonuses from his original 2019 contract will also be included, per ESPN’s Bobby Marks.
New York Knicks All-Star 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_Basketball tell ESPN: https://t.co/4q7EfERHsw
— Adrian Wojnarowski (@wojespn) August 5, 2021
Averaging a league-high 37.6 minutes per game and career highs in both points (24.1) and rebounds (10.2), Randle, 26, was firmly in the conversation for league MVP this past season. Instead, he was awarded the NBA’s Most Improved Player award and earned second-team All-NBA honors.
Behind his stellar play, the Knicks notched their first playoff appearance since 2013 as a fourth seed in the Eastern Conference.
Previously on a three-year, $62.1 million free-agent deal, Randle could have played out the final season of his contract this year and signed a $200 million deal with the Knicks next summer. But with this early extension, the star forward allots his team some cap flexibility to build an improved roster around him.
Joining the team prior to the 2019 season, Randle has become a beloved member of the New York basketball community — and apparently that feeling is mutual.
According to reports from Knicks insider Ian Begley of SNY, Randle had no problem committing to the team this offseason:
“League sources told SNY that Randle loves the Knicks, loves the fans, and was ready to commit his prime to the team – wanting to commit early to give the organization as much flexibility as possible.”
NBA fans from around the league took to Twitter to react to this big-time extension news.
WHEN YOU SPEAK ON JULIUS RANDLE SPEAK WITH SOME RESPECT!!! pic.twitter.com/ovrsAm0uYi
— The Knicks Wall (@TheKnicksWall) August 5, 2021
From a value standpoint, Randle's AAV is a steal.
From a basketball standpoint, Randle could get even better as the team around him does the same.
From a personal standpoint, I'm just flat out looking forward to watching Julius Randle lead my team for the foreseeable future.
— Andrew Claudio (@AndrewJClaudio_) August 5, 2021
— Alan Hahn (@alanhahn) August 5, 2021
So the Knicks investing around Julius Randle led to Julius Randle investing in the Knicks. Crazy how that works
— Jeremy Cohen (@TheCohencidence) August 5, 2021
Last season, Julius Randle averaged 24.1 points, 10.2 rebounds and 6.0 assists per game.
Only five other players in NBA history averaged at least 24 points, 10 rebs and 6 dimes over an entire season:
— Tommy Beer (@TommyBeer) August 5, 2021
Randle could have waited a year and cashed in more, a league source close to the situation said Julius Randle's decision came down to two things: love for the city, situation in NY and what he's become, and then to provide financial flexibility for Knicks to build around him.
— Steve Popper (@StevePopper) August 5, 2021
Knicks are paying Julius Randle less per year than what the Mavs are paying a broken down Porzingis.
— KJYfan (@knicksjets4life) August 5, 2021
So now Knicks lineup – as long as Kemba is healthy – Kemba Walker, Evan Fournier, RJ Barrett, Julius Randle, Mitchell Robinson with D-Rose, Burks, Noel, Quickley, Toppin, Grimes, McBride, Taj, Vildoza and Knox.
— Steve Popper (@StevePopper) August 4, 2021
In addition to Randle’s extension news this morning, the Knicks also made waves in the free-agent market on Wednesday.
After reaching a contract buyout agreement with the Oklahoma City Thunder, four-time All-Star point guard Kemba Walker reportedly plans to sign with his hometown New York franchise.