New York Knicks guard Josh Hart opted to avoid NBA free agency this summer, exercising his player option for the upcoming 2023-’24 season. Months after Hart’s decision, New York is expected to reward him with a multi-year contract extension.
Hart, age 28, was poised to be one of the most coveted free agents available this offseason. The 6-foot-5 guard was coming off a career-best season, setting personal highs in shooting (58.6 percent), Win Shares per 48 Minutes (.179) and efficiency.
- Josh Hart contract: $12.96 million salary in 2023, 2024 free agent
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Instead, Hart exercised his player option worth nearly $13 million for the upcoming season. While most anticipated that Hart would play out the one-year contract and then become an unrestricted free agent in 2024, it now appears a contract extension with the Knicks is imminent.
- Josh Hart stats (2022-’23): 10.2 PPG, 7 RPG, 3.6 APG, 58.6% FG, 51.9% 3PT.179 WS/48
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According to Stefan Bondy of the New York Daily News, Hart is expected to sign a four-year extension with the Knicks in August. As of now, the deal is expected to be in the range of 475 million. At an estimated $18.75 million average annual salary, Hart would be right behind Evan Fournier as the 17th-highest-paid shooting guard in basketball for the upcoming season.
New York’s decision to trade for Hart has paid off even better than the franchise expected. After trading Cam Reddish, Ryan Arcidiacono, Svi Mykhailiuk and a protected first-round pick to the Portland Trail Blazers for him, Hart shot 51.9 percent from beyond the arc and averaged 10.2 points per game with the Knicks.
Latest on New York Knicks negotiations on Immanuel Quickley contract extension
Josh Hart isn’t the only player the New York Knicks are pursuing with. Coming off the best season in his NBA career, guard Immanuel Quickley is eligible for a contract extension entering his fourth year with the team.
However, New York is reportedly going to need to shell out more money for Quickley. According to sources who spoke to Bondy, Quickley is seeking a bigger contract than Hart is expected to sign.
- Immanuel Quickley stats (2022-’23): 14.9 PPG, 4.2 RPG, 3.4 APG, 1 SPG, 44.8% FG, .137 WS/48
New York doesn’t have to feel as pressured to meet Quickley’s asking price, but there is a deadline looming. The 24-year-old guard is owed a $4.171 million salary for the upcoming season and he’ll be a restricted free agent in 2024. However, it’s in the Knicks’ best interest to sign him before the extension deadline in October rather than waiting due to the risk Quickley improves even more and his asking price increases.
While it’s been a quiet offseason for New York, contract extensions for Hart and Quickley would secure the futures of two core players in New York for years to come. With a trade for a superstar unlikely, that becomes the best-case scenario for the Knicks this summer.