Former Net Mikal Bridges Signs $150 Million Extension With Rival Knicks

Ex-Brooklyn Net Mikal Bridges has agreed to a four-year, $150 million deal with the Knicks, locking him in as a key piece for the Nets’ crosstown rival.

Nov 15, 2024; New York, New York, USA; New York Knicks forward Mikal Bridges (25) looks to pass the ball against Brooklyn Nets forward Ziaire Williams (1) during the fourth quarter at Madison Square Garden. Mandatory Credit: Brad Penner-Imagn Images | Brad Penner-Imagn Images

Last summer, the Brooklyn Nets helped Mikal Bridges find a new home by sending him to the New York Knicks, allowing the veteran wing to reunite with fellow Villanova standouts Jalen Brunson and Josh Hart.

This summer, the former Nets forward ensured New York will remain his home for the next four seasons. On Thursday, ESPN's Shams Charania reported Bridges had re-upped with the Knicks on a brand new $150 million deal.

"New York Knicks forward Mikal Bridges has agreed to a four-year, $150 million contract extension with the franchise, agents Sam Goldfeder and Jordan Gertler of Excel Sports Management tell ESPN," Charania announced via X. "The new deal includes a player option for 2029-30 and a trade kicker."

Bridges' average annual value (AAV) will come out to about $37.5 million per season. His previous contract, signed with the Phoenix Suns back in 2021, paid him $90 million over four seasons. He's set to earn an estimated average of $16 million more annually, a testament to the elite role player he's evolved into.

In three revenge games against Brooklyn during the 2024-25 campaign, Bridges averaged just over 17.5 points while guiding New York to three victories. The Knicks swept the season series against the Nets (six total matchups), but Bridges was only available in three.

This transaction cements Bridges' tenure in the Big Apple for years to come, putting any rumors to bed of the Knicks potentially dangling the 28-year-old in hopes of upgrading. Kevin Durant and Giannis Antetokounmpo were both listed as dream targets early in the summer, but the former has moved on to Houston and the latter appears to be staying in Milwaukee.

Bolstering the fiery rivalry between Brooklyn and New York, Bridges will again face his former squad multiple times throughout next season and beyond. However, Bridges isn't remembered negatively by Nets fans—and that's due to the package he fetched for them.

Looking back a year later, the Knicks now have a lockdown forward under contract for the next four seasons, while the Nets sit on a heaping pile of future draft capital. In hindsight, the deal was kind of a win-win, huh?