Sources: Knicks sign RJ Barrett to four-year extension, now likely unavailable in Donovan Mitchell trade talks

With bonuses, Barrett could earn up to $120 million

8/30/2022, 5:48 AM
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A few notes on RJ Barrett’s extension with the Knicks and the club’s talks with the Utah Jazz about Donovan Mitchell:

RJ OFF THE TABLE IN TRADE TALKS 

The Jazz had coveted Barrett in trade talks centered around Mitchell, as SNY reported. Some Knicks decision-makers were open to moving Barrett. But team president Leon Rose obviously decided against it.

With Barrett inked to a four-year extension worth as much as $120 million (including bonuses), the Knicks obviously have all but taken him off the table in trade talks.

Rookie scale extensions include a "poison pill" provision that make them difficult to include in a trade.

The provision is in place between the date the agreement is signed and the date that it begins. In Barrett’s case, the provision is in place until July 1, 2023.

It creates a wide gap between Barrett’s salary in a trade for the Knicks and the team receiving him in a deal, complicating salary matching in such a trade. So it’s highly unlikely that he is included in a deal between now and July 1, 2023.

Where do talks go from here? Earlier this month, people briefed on the talks were pessimistic about a deal getting done if it didn’t include Barrett. The Jazz had been seeking draft compensation that was seen as beyond the Knicks’ comfort level in packages that didn’t include Barrett. Even with Barrett in the deal, the Jazz would have wanted one player from the trio of Obi Toppin, Quentin Grimes and Immanuel Quickley. You’d think that they’d want all three of those players in a package that didn’t include Barrett.

Still, it would be an exaggeration to say the Knicks’ pursuit of Mitchell is dead at this point.

With the Cavs pulling out of Mitchell talks, there doesn’t appear to be any suitors who can approach what the Knicks can offer – even if you take Barrett off the table.

Until another suitor emerges, the Mitchell trade is still the Knicks’ to lose.

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BONUSES IN BARRETT’S DEAL

The bonuses in Barrett’s deal are tied to selections to the All-Star Game, any of the three All-NBA teams or either of the two All-NBA Defensive teams. The specific guaranteed money on Barrett’s deal is unknown but opposing teams projected the first year of his extension at roughly $27 million per year.

The extension is the first for a Knicks first-round pick since Charlie Ward, who inked an extension in 1999.

Barrett has improved in each of his first three seasons in the league. People around Barrett and within the Knicks organization believe he has the temperament and professional approach needed to succeed in a major market like New York.

Barrett has also given the Knicks plenty of reason to be optimistic on the court. He is one of only five players in NBA history to produce 3,000 points, 1,000 rebounds and 200 three-pointers before age 22. The others? LeBron James, Kobe Bryant, Luka Doncic and Kevin Durant.

Barrett has produced these numbers without a top point guard on the Knicks roster, so he figures to benefit from Jalen Brunson’s presence as much as any other Knick on the roster.

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