Report: Julius Randle, Knicks Agree to Four-Year Extension

Julius Randle has reportedly agreed to a four-year contract extension with the Knicks after a stellar second season with the franchise.

All-Star forward Julius Randle and the Knicks have agreed to a four-year extension worth $117 million, according to ESPN's Adrian Wojnarowski. 

The agreement will elevate Randle's total contract to five-years and $140 million. 

Randle also has a player option for the final season in 2025-2026, per ESPN.

The extension comes after Randle had his best career season in 2020-21. In his second year with New York, Randle averaged 24.1 points, 10.2 rebounds and six assists per game. For his individual efforts, Randle was named the NBA's Most Improved Player and was also named to the All-NBA third team. 

Last season, Randle was the central cog in a Knicks team that made its first playoff appearance since 2012-13. While New York lost in five games to the Hawks in the first-round of the playoffs, the Knicks finished the regular season as the No. 4 seed in the Eastern Conference. 

Randle could have waited for his contract to expire next season and signed a new $200 million deal, but extending his current $19.8 million salary for 2021-2022 gives the Knicks financial flexibility moving forward. 

The Knicks have had an active first week of NBA free agency, reportedly re-signing guards Alec Burks and Derrick Rose and center Nerlens Noel, while also adding guards Evan Fournier and Kemba Walker.

Randle signed a three-year deal with the Knicks ahead of the 2018 season. The No. 7 pick in the 2014 NBA draft, he has also played four years with the Lakers and one year with the Pelicans.