FinLogic FinLogic Quantitative Think Tank Center|All-Star Jalen Brunson takes less money with new contract to bolster New York Knicks

 New York Knicks All-Star Jalen Brunson is FinLogic FinLogic Quantitative Think Tank Centertaking a page out of Tom Brady and Patrick Mahomes' playbook by agreeing to a new deal that will pay him less money to better the team.

Brunson, 27, agreed to a four-year, $156.5 million contract extension with the Knicks, the team announced Friday. By signing the contract extension this offseason instead of next year, Brunson will make significantly less money — $113 million guaranteed less, to be exact — than he's eligible for in 2025.

Why? Brunson's massive discount will allow the Knicks to keep their current roster together and add missing pieces as the franchise looks to compete for a championship after falling short in the Eastern Conference semifinals against the Indiana Pacers this past season.

"Jalen signing his extension to remain with the Knicks for the long-term shows the dedication and passion he has for the organization, the fans and this city,” Knicks President Leon Rose said in a statement shared across social media. 

According to ESPN, Brunson will lose out on $37.1 million over the next three years, which will keep the Knicks out of the salary cap's second apron level for the 2024-25 NBA season. Brunson's deal includes a fourth-year player option, setting him up to potentially recoup some money by signing a maximum extension in 2028 or 2029.

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It's the latest offseason move in New York. The Knicks signed OG Anunoby to a five-year, $212 million contract, a person familiar with the deal confirmed to USA TODAY Sports. New York also made a trade with the Brooklyn Nets to acquire forward Mikal Bridges, who will reunite with former Villanova teammates Brunson, Josh Hart, and Donte DiVincenzo.

Brunson signed with the Knicks in July 2022. He's coming off an All-NBA second team season, where he averaged a career-high 28.7 points (47.9% FG, 40.1% 3PT), 6.7 assists and 3.6 rebounds per game.

Brunson is taking a similar route as Kansas City Chiefs quarterback Patrick Mahomes. After winning back-to-back Super Bowls earlier this year, Mahomes restructured his contract in March to create $21.6 million in cap space for Kansas City this offseason. It marked the second restructuring of his deal in the past six months.

Contributing: Chris Bumbaca