(Basketball news) The New York Knicks are set to finalise a four-year extension with the rookie that could be worth up to $120 million. According to Adrian Wojnarowski, Barrett's agent Bill Duffy has agreed to a massive deal, this also helps the Knicks who have reportedly been in pursuit of Donovan Mitchell, but team president Leon Rose set a Monday deadline to trade for the Utah Jazz guard. The Knicks and Jazz failed to reach agreement on trade details in recent days and both sides remain further in discussion as Donovan Mitchell wants the trade completed.

The extension doesn't necessarily mean that they would end the chance of a potential trade for Mitchell, but complicates the deal a bit further because of the NBA's so-called "poison pill" provision. If Barrett's traded before the extension takes effect next July, his outgoing salary will be $10.9 million, which would be the value of the final season of his rookie contract. But any team trading for Barrett before July would have to take on $26.2 million against the salary cap. Both sides are still open to a deal that would include Barrett but his extension effectively requires the Knicks and Jazz to start over the negotiations if they choose to further pursue a trade. 

Barrett, who turned 22, is approaching the fourth season of a four-year rookie contract which was worth $35.6 million which he signed as a rookie in 2019. The Knicks selected him as the No. 3 pick from Duke in the 2019 draft. He has increased his output in each season since joining the NBA with an average of 14.3 and 17.6 before he started averaging 20 points, 5.8 rebounds and three assists per game last season. While his overall output improved, his efficiency took a step back in 2021-22 as he was shooting 44.1% from the field and 40.1% from 3-point distance in 2020-21, he shot 40.8% from the field and 34.2% from 3-point distance last season.

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