Knicks gave Jazz a Monday deadline to reach a deal.
The New York Knicks reportedly reached an agreement on an extension worth up to $120 million for guard RJ Barrett, but the deal puts a big wrinkle in the team’s pursuit of Utah Jazz All-Star Donovan Mitchell.
Knicks president Leon Rose gave the Jazz a Monday deadline to reach a trade, or the team would be extending Barrett, according to ESPN. Both teams have been talking for weeks about a potential blockbuster deal for three-time All-Star in Mitchell.
With the extension, a giant roadblock is now in the way to a deal, though the report added that both sides are not going to rule out re-engaging in talks this offseason.
Trade talks reportedly “tightened” this past weekend, but there was still a considerable amount of common ground to be found. Those discussions went up to Monday night, at which point Rose told Barrett’s agent, Bill Duffy, that the extension would be agreed to.
Barrett was rumored to be discussed in several trade packages with Utah, though the hurdle was the unprotected first-round picks that would be attached to the deal for Mitchell as well. The Jazz also asked about adding Knicks guard Quentin Grimes, who was a standout rookie last season.
The Knicks believed Barrett could be a cornerstone franchise piece when they drafted him third overall three years ago, and the extension proves that point. He has made positive strides each season, and the 2021-22 campaign was his biggest year yet, averaging 20 points per game with 5.8 rebounds and 3 assists while shooting 41 percent from the field in 70 games.
Barrett became the first Knicks draft pick to be given a long-term deal after his rookie pact since Charlie Ward in 1999.
As for Mitchell, he signed a five-year extension with the Jazz before the start of last season worth $163 million. The Knicks would have to take that on if he were eventually traded, with cap hits of $30 million, $32 million, $34 million and $37 million in the coming years respectively.
Mitchell has averaged 23.9 points over five seasons with the Jazz, with his last three being All-Star selections. He has been disgruntled with the direction of the franchise, as it has not built the proper team around him to make a serious stand in the Western Conference when playoffs come around.
Barrett, at 22 years old, is the youngest player in Knicks history with a contract of $100 million or more.