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Julius Randle signing four-year, $117 million contract extension with Knicks

Knicks big Julius Randle

NEW YORK, NY - MAY 26: Julius Randle #30 of the New York Knicks celebrates a three point basket against the Atlanta Hawks during Round 1, Game 2 of the 2021 NBA Playoffs on May 26, 2021 at Madison Square Garden in New York City, New York. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2021 NBAE (Photo by Nathaniel S. Butler/NBAE via Getty Images)

NBAE via Getty Images

Julius Randle said he wanted to retire with the Knicks.

He’s putting his money where his mouth is, agreeing to a contract extension that isn’t necessarily financially advantageous to him.

Adrian Wojnarowski of ESPN:

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).

But New York is getting Randle more help. Kemba Walker and Evan Fournier are much-needed perimeter playmakers. Maybe Randle will have room to score in the paint once again.

Randle just led the Knicks to their most-satisfying season in years. They’re keeping the good feelings rolling.