According to ESPN's Shams Charania on Thursday, the New York Knicks have reached an early contract extension agreement with Mikal Bridges. Bridges will receive a two-year contract worth $150 million, which includes a player option for the 2029-30 season and a trade bonus.

According to the collective bargaining agreement, Bridges cannot be traded within six months of signing the new contract. Although he is eligible to sign a contract worth $156 million, he still chose to make a small concession to leave enough space for the team's subsequent reinforcement.

The 28-year-old Bridges, who primarily plays small forward, entered the NBA with the tenth pick in the first round of the 2018 draft. He played for the Phoenix Suns and Brooklyn Nets until he was traded to the New York Knicks in July 2024.

Since joining the Knicks, Bridges has averaged 17.6 points, 3.2 rebounds, and 3.7 assists in 82 regular season games, shooting 50.0% from the field and 35.4% from three-point range. He also played in 18 playoff games for the Knicks, averaging 15.6 points, 4.5 rebounds, and 2.9 assists per game, helping the team reach the Eastern Conference Finals for the first time in nearly 25 years.