The deal, which begins at $18,144,000 (the maximum 40% raise on Hart’s $12.96MM salary for 2023/24) is fully guaranteed for the first three seasons and doesn’t include any performances bonuses.
The only detail slightly different than anticipated is that the annual raise between years one and two isn’t quite for the full 8%, so Hart’s four-year total is approximately $80.9MM instead of $81.3MM. The guaranteed portion of the contract extension comes in at $58.54MM.
Begley believes the contract will ultimately be judged based on how healthy Hart stays over the next few years and how much success the Knicks have during that time, since the forward seems unlikely to significantly improve his production in any specific area. The average annual value of Hart’s deal lands between the new contracts signed by Dillon Brooks and Caris LeVert, Begley notes.
Here are a few more details on recently completed NBA contracts:
- Terry Taylor‘s new deal with the Bulls is a two-year, minimum-salary contract, tweets Keith Smith of Spotrac. It’s currently non-guaranteed, but Taylor would receive a partial guarantee worth $350K if he lasts through the first day of the regular season. That partial guarantee would increase to $700K if he remains under contract through December 15, Hoops Rumors has learned. Taylor would be assured of his full salary for 2023/24 if he isn’t waived by the league-wide guarantee date in January and would receive his full ’24/25 salary if he isn’t waived on or before July 7, 2024.
- The trio of players signed by the Mavericks on Monday – Greg Brown, Joe Wieskamp, and Jordan Walker – all received Exhibit 10 contracts, Hoops Rumors has learned. All three will receive bonuses worth $75K if they’re waived before the season and then spend at least 60 days with Dallas’ G League affiliate.
- In case you missed it, Jordan Miller‘s two-way contract with the Clippers covers two seasons, as we relayed on Tuesday evening. Miller is one of seven players to sign a two-year two-way deal this summer, as our tracker shows.