NBA Rumors: What's the likelihood Julius Randle, Knicks agree on a contract extension?

Now marks arguably the best and most optimistic time to be a New York Knicks fan since the turn of the century.

Following their winningest season in over a decade, Knicks All-NBA floor general Jalen Brunson sacrificed $113 million by signing a contract extension this summer. Since then, reporting suggests New York's prized offseason acquisition, Mikal Bridges, is reportedly gearing toward doing the same when he's eligible for a new deal.

Between the recent success, loaded roster and immaculate vibes radiating from the quartet of 'Nova Knicks,' the Big Apple is buzzing. Amid all of the excitement, one significant question remains unanswered:

Where does Knicks All-Star big man Julius Randle fit into the picture? He is notably entering the final guaranteed year of his current pact with New York. 

On Wednesday, SNY's Ian Begley shared a mailbag story, taking Knicks-related questions from readers. Understandably, many fans used this as an opportunity to ask about Randle's standing and long-term outlook in New York. Nonetheless, neither side has operated with a sense of urgency based on the insider's responses.

NBA Rumors: Julius Randle-Knicks contract extension update

Randle is extension-eligible starting Aug. 3. New York can offer him as much as $181.5 million over four years. However, Begley notes negotiations aren't presently "at the forefront" for either party.

But as Begley points out: "Things change quickly in the NBA, especially at this time of year."

Moreover, Begley mentions how Randle and the Knicks understand the team has more pressing needs, like addressing their backup center spot. New York lead executive Leon Rose has other priorities, partly contributing to the stalled talks.

Ultimately, Begley believes the Randle situation "will work itself out" as long as the Knicks live up to their lofty expectations for the upcoming campaign.

In 2024-25, Randle has a $28.9 million salary. His player option for the following year is worth $30.9 million. Additionally, he has a 15 percent trade bonus, though that responsibility would fall on the Knicks if they moved him.

Before suffering a season-ending shoulder injury last year, Randle was playing some of his best basketball, and the Knicks were thriving. He averaged 24 points, 9.2 rebounds, and 5.0 assists per game with .472/.311/.781 shooting splits.

Following the Knicks' mid-season blockbuster trade for two-wing OG Anunoby, the trio of him, Randle and Brunson looked unstoppable. New York went 11-1 when all three shared the court, with an average margin of victory of 16.8 points.

With a presumably healthy Randle back in the mix and the addition of Bridges, the Knicks hope to make a deep playoff run this season. If so, the former will earn a lucrative payday.

Regardless, we shouldn't expect the two sides to agree on new contractual terms anytime soon -- by Begley's account.