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He will be eligible for a max contract starting at 30 percent of the cap in the summer of 2022. He can accept a typical veteran extension and guarantee himself over $126 million to stay in New York, or he can ride out next season and go for the jackpot. That puts the Knicks in an ironic position: they'll have practically limitless cap space to spend this offseason, but they can't use it on the player they'd probably want to sign most. Some team with enough cap space or a hefty enough trade exception would almost certainly claim him and ruin everything.

In theory, the Knicks could waive Randle, eat the $4 million in dead money and use their cap space to re-sign him, but the problem with attempting such a strategy is that it would subject Randle to waivers. Only deals that last at least four years can be renegotiated, and Randle's original deal was a three-year pact. Players like Zach LaVine have the option to renegotiate and extend through their team's cap space, but Randle is ineligible for such an arrangement. The problem for the Knicks is that they have no way of offering Randle more immediately. In total, this sort of extension could pay Randle $126.2 million over five years, or $106.4 million in new money. He would then be eligible for eight percent annual raises in each season thereafter (up to four). A typical veteran extension would keep Randle's 2021-22 salary at $19.8 million, but give him up to a 20 percent raise in the 2022-23 season. Randle has a team option next season for $19.8 million, but only $4 million is guaranteed. Randle made his first All-Star team earlier this season, and the Knicks hope he has plenty more in his future.Īccording to ESPN's Brian Windhorst, the Knicks plan to discuss a possible contract extension with Randle this offseason. They are on track to not only reach the playoffs for the first time since 2013, but to have home-court advantage in the first round as the No. Randle is currently leading the Knicks through their best season in years. But oh what a difference a year can make.

8 overall pick on Obi Toppin, a potential replacement. So unconvinced were they in his long-term fit that they used the No. Julius Randle's $18.9 million salary looked like an albatross for the New York Knicks before the season.