According to James L. Edwards III of The Athletic, Hart became extension eligible on August 10 and can technically receive as much as a four-year, $132 million deal.
However, that maximum is not considered realistic. Two league sources who spoke with The Athletic pointed toward a three-year extension as a more likely outcome.
One source suggested somewhere between $54 million and $62 million could represent a compromise between the sides, while another viewed approximately $60-62 million over three years as the "sweet spot."
Hart will earn $20.9 million this season and has a team option worth slightly more than $22 million for 2027-28.
Josh Hart Zohran Mamdani New York Knicks
Credit Kyle Mazza/CNP/INSTARimages - Scanpix
Josh Hart Zohran Mamdani New York Knicks
Hart could have case for $70-80 million
While approximately $60 million could work for the Knicks, Edwards believes Hart has a strong argument for considerably more.
A three-year extension in the $70-80 million range would put his salary more in line with comparable high-level role players around the NBA.
Hart is coming off one of his best seasons, averaging 14.3 points while shooting 50.8% from the field and a career-high 41.3% from three-point range. He also averaged 8.8 rebounds and 5.7 assists during the regular season.
Edwards pointed to Dillon Brooks' recent three-year, $73 million extension with the Phoenix Suns and Derrick White earning more than $30 million next season as comparisons supporting Hart's case.
Jalen Brunson, Knicks
Jalen Brunson, Knicks
Credit AP-Scanpix
Knicks hoping to keep championship core together
The challenge for New York is maintaining financial flexibility.
Jalen Brunson previously accepted less money to help the Knicks keep their core intact, while OG Anunoby and Mikal Bridges already have significant long-term contracts and Karl-Anthony Towns could be next in line for an extension.
Hart, meanwhile, turns 32 in March, making this potentially his final opportunity for another major NBA contract.
Edwards expects the Knicks and Hart to eventually reach an agreement, but the biggest question is where they find the middle ground between Hart maximizing his earnings and New York avoiding an increasingly expensive championship roster.
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