Mikal Bridges agreed to a four-year, $150 million extension with the New York Knicks on Thursday, a person with knowledge of the details said. The Knicks gave up five first-round picks to acquire Bridges last June and he rewarded them by taking less than he could have earned to lock in to a future with former Villanova teammates Jalen Brunson and Josh Hart.

The New York Knicks announced Friday that the team has signed Mikal Bridges to a long-term contract extension.

The New York Knicks are excited after extending Mikal Bridges' contract for four more years. The deal will pay Bridges $150 million with a player option in the 2029-30 season, but the contract has a wrinkle that will affect the Knicks for a long time. CBS Sports writer Sam Quinn explained the financial implications of Bridges' new contract.