Report: Knicks already have $75M extension lined up for key player

The New York Knicks have stayed relatively quiet this offseason. Could they potentially have moves coming on the horizon?

The Knicks have made a few nondescript moves thus far. They signed Donte DiVincenzo to a four-year, $47M deal and traded away 2021 lottery pick Obi Toppin.

According to Knicks insider Stefan Bondy of New York Daily News, the team’s emphasis appears to be on developing the team in-house. The Knicks reportedly have an extension already lined up for Josh Hart worth $75M for four years. Bondy states that Hart’s deal “will be delivered in August.”

Breakout guard Immanuel Quickley is also angling for an extension. But Bondy revealed Quickley is after a deal that is even more lucrative than Hart’s rumored deal. The Knicks have until October to get a deal done with their fourth-year guard.

Hart was acquired via trade from the Portland Trail Blazers midway through the 2022-23 season. Hart proved to be an ideal addition to head coach Tom Thibodeau’s rotation, averaging 10.2 points and 7.0 rebounds on 58.6% shooting from the field.

Hart opted into his $12.9M player option for next season, which made him eligible for an extension.

Quickley turned in a career year last season. The Sixth Man of the Year finalist averaged 14.9 points and 4.2 rebounds on 44.8% shooting from the field — all career highs. The 24-year-old also missed just one game last season and turned himself into a stellar defender at the guard spot.

Quickley will play on the final year of his rookie deal next season that will pay him close to $4.2M.