The New York Knicks and RJ Barrett on Monday agreed to a big contract extension that could have some significant consequences.
ESPN’s Adrian Wojnarowski shared the news about the Barrett contract. Barrett is getting a four-year, $120 million contract extension from the Knicks.
According to Woj, the Barrett deal could end the Knicks’ pursuit of a trade for Donovan Mitchell.
Woj says the Knicks had imposed a Monday night deadline to get a Mitchell trade done or they would commit to the Barrett extension.
New York’s Leon Rose set a Monday night deadline with Utah to reach an agreement on a trade for Mitchell – or the Knicks would commit to the Barrett extension, sources said. Knicks, Jazz closed gap on deal points in recent days on a Mitchell trade, but neither would go further.
— Adrian Wojnarowski (@wojespn) August 30, 2022
The rookie extension could complicate a Mitchell trade due to the “poison pill” circumstance. If the Knicks were to include Barrett in a trade to Utah after agreeing to the rookie extension, and before the extension takes effect, the accounting would be tougher for the Jazz. For the Knicks, only Barrett’s lower 2022-2023 salary would count against them in trade salary matching. But for a team acquiring Barrett, the forward’s 2022-2023 salary plus the average value of his extension would count against them. The uneven values makes it more complicated to trade a player who has agreed to a rookie extension before said extension takes effect.
Barrett was the No. 3 overall pick by the Knicks in 2019. The 22-year-old averaged 20.0 points and 5.8 rebounds per game last season.
