Knicks’ updated cap situation following Mikal Bridges extension

Is the second apron still inevitable?

Deep in the lull of the NBA offseason, the Knicks decided to make headlines around the same time of the MLB trade deadline’s yearly chaos on Thursday, officially inking Mikal Bridges to a four-year, $150 million extension, a move once seen as inevitable when he was acquired last June that became heavily debated after it took management nearly four weeks past Bridges’ initial extension eligibility to pull the trigger.

Apparently, there were rumors that the Knicks were awaiting to learn the fate of Bucks’ superstar Giannis Antetokounmpo before making any rash decisions about Bridges. With Antetokounmpo increasingly likely to at least give Milwaukee one more chance, Leon Rose got it done. Notably, Bridges took $6 million less than the maximum extension he could’ve received. A small gesture that criminally underpaid bench guard Deuce McBride joked about following the news:

The deal includes a player option in the fourth year and a 15% trade kicker. It begins in 2026-27 and Bridges cannot be traded for six months after the deal is made official. That’s notable, as the 2025-26 trade deadline will likely fall around February 6. If you remember, Josh Hart specifically timed his extension following the 2022-23 season for August 8, ensuring he could not be dealt at that year’s deadline. Barring the team stalling for a week, Bridges would still be able to be traded at the deadline.

Bridges, like Brunson, could’ve elected to wait a year and make more the following season. While there was no chance he could challenge a surefire max contract like Brunson would’ve. Bridges could’ve demanded close to $200 million and looked at OG Anunoby’s extension as a baseline. Instead, he did what was rumored to be happening last summer and took less, even if the $6 million he left on the table right now is insignificant.

The question we’re all asking after this: what does this mean for the second apron?

Bridges’ Year 1 salary will clock in at just under $33.5 million (assuming the deal is naturally backloaded), making him the fourth-highest paid player on the team. It removes a major question mark for the 2026-27 season, but also moves the team closer to an uncomfortable position. The second apron is estimated to be just $222.4 million that year, over $6 million less than previously projected due to an unexpected decrease in the salary cap increase from the 10% maximum to just 7%.

So, as of today, the Knicks would have eight guaranteed players under contract and $18.6 million under the second apron. Guerschon Yabusele has a $5.8 million player option and the team will have Jordan Clarkson and Mitchell Robinson hit unrestricted free agency, while they’ll probably have to sort something out for Ariel Hukporti.

Unfortunately, it would take a monumental effort (and one that would make the roster leaps and bounds worse) to stay below the second apron in 2026-27. For it to work, they’d have to likely let Robinson, Yabusele, and Clarkson walk for a bunch of veteran minimums, something that will make the team a decent amount worse. Considering the organization probably wants more than one crack at this, expect them to still operate in the second apron in 2026-27.

But, what about 2027-28? In that season, they open up flexibility, but also big questions. Karl-Anthony Towns will have a $61 million player option, while the team will have a $22.4 million club option on Josh Hart. They’ll also have to deal with no longer having McBride on his ridiculously cheap extension. The way this is positioned, the 2027 offseason will likely be an inflection point and their biggest opportunity to pivot, barring a blockbuster trade becoming available next offseason.

All in all, the minor paycut will only make James Dolan pay a bit less in the luxury tax once the team becomes a repeat offender. The extension itself was a necessary move that keeps you somewhat flexible instead of staring down the barrel of a franchise-altering 2026 offseason.

Now, about Big Mitch…