Report: Knicks Set Rookie Contract Record

Tyler Kolek is making big bucks as a new member of the New York Knicks.

Marquette Golden Eagles forward David Joplin (23) and Marquette Golden Eagles guard Tyler Kolek (11) celebrate after NCAA Men’s Basketball Tournament game against the Colorado Buffaloes, Sunday, March 24, 2024, at Gainbridge Fieldhouse in Indianapolis. Marquette Golden Eagles won 81-77. / Alex Martin/Journal and Courier / USA

Tyler Kolek's first New York Knicks contract offered some extra fireworks after the Fourth of July.

The Knicks formally announced the signings of recent premier draft picks Kolek and Pacome Dadiet on Friday and the duo has reportedly inked unique contracts. Dadiet, the team's opening selection at 25th overall, is said to be taking 80 percent of the rookie scale in year one while Kolek's deal is making history after New York drafted him at No. 34.

Per Ian Begley of SNY, Kolek's new contract is armed with $6.6 million in guaranteed money, setting a new NBA record for a second-round pick. Begley noted that Kolek passes recent New York playoff foe Aaron Nembhard, who got an assured $6.4 million from the Indiana Pacers upon his selection at 31st overall in 2022.

Knicks’ contract with rookie Tyler Kolek sets NBA record with most guaranteed money ($6.6M) for a
second-round pick. Prior record was Andrew Nembhard’s $6.4M. Kolek’s Knicks deal is the most a team can pay a second rounder under the second round exception.

— Ian Begley (@IanBegley) July 6, 2024

Kolek's guarantee is the most the Knicks could've afforded him under the second-round exception, which keeps a selection's salary away from the 2024-25 cap until July 31, giving the Knicks a little more financial flexibility as they seek to avoid the restrictive first apron.

The Knicks went through a lot to acquire Kolek's services, sending three future second-round choices to the Portland Trail Blazers to move from 38th to 34th on last week's draft board. Kolek was taken with that adjusted choice after a stellar collegiate career between George Mason and Marquette.

With the Golden Eagles, Kolek found Madison Square Garden glory as the Most Outstanding Player of the Big East Men's Basketball Tournament in 2023. The title, earned en route to Marquette's first Big East triumph, was previously by his new teammate Josh Hart (a two-time winner alongside Patrick Ewing) and fellow incoming Knick Mikal Bridges. Other Kolek accolades include All-American team selections in his latter two seasons and he also led the nation in assists over this past campaign.

While the Knicks' backcourt picture is relatively crowded in Manhattan, he'll likely stand as one of the headliners of the team's Summer League affairs, which tip off next Saturday against the Charlotte Hornets' prospects (5 p.m. ET, ESPN2).

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