AUGUST 10: Hart’s extension is official, the Knicks announced (via Twitter).
“Josh’s immediate impact on our team last season — both on and off the court — cannot be understated. … The leadership and competitiveness Josh brings fits perfectly with the culture we are building,” president Leon Rose said.
AUGUST 9: The Knicks and forward Josh Hart are finalizing a four-year contract extension worth $81MM, his agents at CAA Basketball tell Adrian Wojnarowski of ESPN (Twitter link).
Hart, who was traded from Portland to New York on February 9, was ineligible to sign an extension that tacked on more than two years to his expiring contract until at least six months after he was dealt. He and the Knicks are wasting no time in getting something done.
According to Wojnarowski (Twitter link), the two sides are working through the final details of an agreement, which can be officially completed as soon as Thursday.
Hart had the opportunity to reach unrestricted free agency this summer by turning down a $12.96MM player option but decided to pick up that option, creating some extra short-term spending flexibility for the Knicks, who took advantage by signing Hart’s former Villanova teammate Donte DiVincenzo in free agency.
While the Knicks and Hart may not have had a formal agreement in place at the time he exercised his option, there was likely an understanding that they’d work out a longer-term contract once he became eligible to sign one.
The NBA’s new Collective Bargaining Agreement allows Hart to receive a raise of up to 40% on his current salary, with subsequent 8% annual increases. That would work out to a maximum starting salary of $18,144,000 and a four-year total of $81,285,120, which lines up with Wojnarowski’s reporting. We’ll have to wait to see whether the deal is fully guaranteed or includes any options.
Hart averaged 10.2 points, 7.0 rebounds, 3.6 assists, and 1.4 steals in 30.0 minutes per game across 25 regular season appearances after being acquired by the Knicks at February’s trade deadline. He was also an important part of the club’s playoff rotation, starting five of 11 games and averaging 32.1 minutes per night.
The 51.9% three-point percentage that Hart posted after the trade is unsustainable, but he’s capable of knocking down an outside shot (.350 career 3PT%) and is a talented, versatile defender who is a strong rebounder for his position and size (6’5″). The 28-year-old is considered a good fit for head coach Tom Thibodeau‘s system, so it’s no surprise that the team was eager to lock him up for the long term.
Hart was the only member of Team USA’s 12-man roster that didn’t play in Monday’s exhibition game against Puerto Rico, but he’ll likely see some action once he officially signs his new contract. The U.S. team has tune-ups against Slovenia and Spain on tap this weekend, followed by exhibition contests vs. Greece and Germany next week before the World Cup officially tips off later in the month.
Hart’s extension will make him ineligible to be traded for six months. That trade restriction won’t expire until after this season’s deadline, as we detailed on Tuesday.
No brainer that this deal was going to get done, happy they’re getting it wrapped up quickly.
Knicks brass has done a good job with trades and signings the last two years, they actually look like a competent franchise for the first time since the 90’s.
LOL 7 million annually tops crazy overpay
Hey bro bums and water boys are making millions of dollars today sp its not a over Pau. Hart is a very impactful player who on a championship roster which i hope one day Leon Rose and Brass will construct Hart will be a valuable and important piece.
They do finally look like a competent franchise. Bout friggin time
Overpay!
Even if, it would be by like 1-2 mil a year. There’s plenty guys making 18-20 mil who don’t make nearly the impact he does. His value does not come through the stat sheet, he’s a guy every winning team needs around its star players.
Knicks were 30-27 before they acquired Hart and 17-8 afterwards (roughly a 56 win pace). He may not put up huge numbers but he’s very valuable to the team and improved the culture when he arrived. On top of that, he brings out the best in Brunson and in an age of trade demands, keeping your stars happy and putting them in the best position to win is a great move.
Yeah, he isn’t necessarily getting paid for the stats (though his rebounding is extraordinarily good), but rather for his output for others and how he raises their game. He’s willing to do the dirty work and does it well. Salary is higher than I thought he would get (~$18m), but it’s not far off. Deserves it.
Lol stop
Slovenia and Spain are tune up games? Nobody told them.
They’re all exhibitions. They’ll stop being tune-ups once the matches actually start.
Glad the guy got paid. Is it an overpay? Yes. Is this the new going-rate for an NBA 4th or 5th option? Yes.
Brooks got a 4/86M deal… so what are you going to do?
Now if he shoots 38-42% from 3 and gives them 10-12 points, 7 or 8 boards, 3-4 assits, a steal, and plays above average D on opposing 2s and 3s then you’ll probably say he was worth the money at the end of the day.
Now if he shoots sub 35% from 3, less than 10 points a game, and his defense slips, you’ll have the pitchforks out.
Of course it’s an overpay but he makes an impact. Just like DayDay Green he plays bigger than he is. Meaning he’s not afraid to go for the rebound in the trees. So he brings value in other ways.
Hart opted in for this year at his option price of 13 mm. So it’s basically 94 mm over 5 years. Even a few years ago, this would be a high price for a backup, even one that’s a core roation player. Today, it’s not, at least not as a percentage of the likely salary cap (150 mm) and non-tax payroll (185 mm) when this deal starts in the 2024-25 season.
Anyway, teams don’t really control what they pay FA players, only which ones they choose to sign or re-sign. So, the decision is to sign Hart or let him walk. There isn’t a third path. With Quickley, who reportedly is also finalizing an extension, it’s different, because there is a third path (hold, and wait until next year).
This. If you end up getting a discount, it’s because the player themselves insisted on it, typically. And even then, it’s rare in the NBA. More common in MLB, largely thanks to the lack of cap.
Have to note that the Lakers gave up on a lot of future stars just to chase & appease Lebron. Hope they feel good about that when they are scraping bottom in a few years.
True, but as they say, flags fly forever, so I think they’d say it was worth it. Other teams have done the same thing just to win that ring. Now, it’d be a different story though if they had never won.
Dillon Brooks is an overpay. JVV is an overpay. Hart is getting market value. He avg 30 mins a gm. That’s starters mins. Plenty of gms he helps close out. He is one of best rebounding guards in NBA. He is one of top defenders. Who can guard three positions.
He may be getting top dollar. But a guy who plays both ways. And is a team leader. Is worth it to Knicks ……
Knick for life Josh ……. go get it
Brooks is an overpay but Hart is market value because he averages starter minutes. Your logic makes no sense. They’re probably both slightly over payed in the first two years of their deal, but not necessarily, and probably both descent to good deals on the last two years of their deals, as the salary cap continues to increase. Hart is a good rebounder for his size and shot an an unsustainable rate once he joined the knicks. He’s an average defender at best.
Now trade him and Fournier with picks for a all star SF. Championship caliber team
Along with three 1st rounders on top of hart and fornier and it’s possible