Josh Hart and the New York Knicks have agreed to extend a midnight ET deadline on Saturday (June 24) for his $12.9 million player option for next season until Thursday (June 29), according to NBA insider Adrian Wojnarowski of ESPN.
The Knicks want to re-sign Hart and this extension on his player option for next season could help them create more cap flexibility.
“Hart, a priority to retain on a new deal, could opt in and extend off that salary number for next season or decline the option and become an unrestricted free agent eligible to sign a new deal with the Knicks or another team,” Wojnarowski wrote. “An option for Hart that would deliver the Knicks cap flexibility would be an opt-in and extension off his $12.9 million for next season — which he is eligible to do for up to 140% of that salary.
“This would give the Knicks access to using their full $12.4 million non-taxpayer midlevel exception. The Knicks have $149 million in guaranteed salary on the books for next season, which is $16 million below the luxury tax level.”
The Knicks acquired Hart from the Portland Trail Blazers on February 9. The 28-year-old averaged 10.2 points, 7.0 rebounds and 3.6 assists in 25 games with New York while shooting 58.6% from the field, 51.9% from beyond the arc and 78.9% from the free-throw line.
NBA NEWS & TRADE RUMORS: Josh Hart & New York Knicks Updates
Knicks point guard Jalen Brunson and Hart are very close friends. They both went to Villanova and love playing with each other. It would shock many people around the NBA if New York doesn’t re-sign Hart, who has career averages of 9.8 points, 6.2 rebounds and 2.4 assists with the Los Angeles Lakers, New Orleans Pelicans, Blazers and Knicks.
The Knicks beat the Cleveland Cavaliers in the first round of the 2023 playoffs in five games but lost to the Miami Heat in the Eastern Conference Semifinals in six games. Hart averaged 10.4 points, 7.4 boards and 2.2 assists against the Cavaliers and Heat.
NBA NEWS & TRADE RUMORS: Josh Hart & New York Knicks Updates
At the beginning of June, Hart told Taylor Rooks of Bleacher Report that he loves playing for the Knicks and wants to re-sign with New York.
“I love New York,” Hart said. “I love the team. I love the coaching staff, the front office that we have. We got young guys, draft picks, all those sort of things. So I mean, obviously that would be an ideal place for me to just re-sign there and do that.”
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