Hart Opts In (and Why the Knicks should NOT Trade for James Harden)

Steer clear of Hardens and Kyries of the league. Build around the Brunsons.

Josh Hart has exercised his $12.9 million option for the 2023-24 season. 

This is good news for the Knicks. As I've often argued in this space, bringing back Hart should have been a principal priority for New York. And now we know he will spend at least next season (and likely several more) wearing orange and blue.   

As detailed in previous posts, Hart had to choose between two divergent directions this offseason. He could have opted out of the final year of his contract, thus becoming an unrestricted free agent Friday night. The other choice was opting in, which he did on Thursday.

So, how will the team and the player proceed? 

🏀 What's next for Hart?

Hart is fully expected to sign an extension with the Knicks this summer. But he'll have to wait a bit. 

The collective bargaining agreement states that a team must wait six months after acquiring a player via trade before signing them to an extension. The deal between Portland and New York was consummated on February 9th, which means Hart won't be able to officially sign on the dotted line until August 9th. Per CBA bylaws, the Knicks are not allowed to negotiate terms or even discuss a possible extension before that date, but I'm gonna go way out on a limb and say the two sides already have the framework in place. 

Per the new CBA, New York can offer Hart a contract up to four years in length, starting at 140% of his final season salary. So, the max the Knicks can pay is an extension worth $81.2 million. Factoring in the nearly $13 million he'll make in 2023-24, that's $94.1 million over five years (an average annual value of $18.8 million), which would keep him in NYC through the end of the 2027-28 campaign. 

Of course, the Knicks are not required to max him out. Nor are they obligated to offer a full four years. They could include a team option on the back end. Or set up the contract to de-escalate in value (as they've done with Jalen Brunson and Mitchell Robinson's pacts). We'll see what the final guaranteed sum comes in at once the finalized deal is announced in August. 

🏀 What's Next For the Knicks:

The Knicks preferring Hart to opt in and extend would seem to indicate they plan to be active in free agency.