Barrett Secures The Bag

For the first time since the Mitchell saga first began, I think there is now a solid chance that New York and Utah don't agree to a trade before the start of the 2022-23 season.

Late last night, Adrian Wojnarowski of ESPN broke the news that RJ Barrett and the Knicks had agreed to a four-year extension. 

Yes, folks, that means the Curse of Charlie Ward has been snapped, as Barrett is the first Knicks first-round draft pick to ink a multiyear contract extension after his rookie deal since Ward signed a five-year, $28 million contract in January of 1999. (With the Mitchell Robinson extension also completed, the Knicks have now signed more players coming off rookie deals in the past two months than they did over the first two decades of the 21st century.) 

There's plenty to discuss but first let's tackle the financials. According to Shams Charania of The Athletic, Barrett's deal will pay him $107 million guaranteed over four years and could be worth up to $120 million with incentives. Ian Begley of SNY reports that the bonuses in Barrett's deal are tied to selections to the All-Star Game, any of the three All-NBA teams or either of the two All-NBA Defensive teams.

After pocketing $10.9 million in 2022-23 (the final year of his rookie contract), Barrett will earn approximately $27 million annually over the next four seasons. That number could approach $30 million per year if Barrett meets the abovementioned incentives. The Knicks front office hopes he does, as that would mean Barrett had established himself as a top-20 NBA player before celebrating his 25th birthday.