Report: Knicks, Hart agree to extend opt-in date for his contract, hinting at possible extension

Tom Thibodeau and the Knicks want Josh Hart back next season — as they should, he was a perfect fit for them. Hart has said he wants to stay a Knick but expected to opt out of his  $12.9 million next season to secure a bigger payday.

However, in a sign that the Knicks and Hart may be close to an opt-in and extend situation, the team and player agreed to push his opt-out date back to Thursday, reports Adrian Wojnarowski of ESPN.

ESPN Sources: Josh Hart and the Knicks have agreed to extend a midnight ET deadline for his $12.9M player option until Thursday. Hart, a key trade deadline addition to the Knicks, is a priority to retain on a new deal.

— Adrian Wojnarowski (@wojespn) June 25, 2023

Hart averaged 10.2 points while shooting 51.9% from 3 with seven rebounds a game after being traded to the Knicks last season, forming an impressive second unit with Immanuel Quickley. Hart is a key two-way role player likely to get offers in the $20 million a year range. As he has earned a little more than $33 million for his entire six-year career up to this point, this next contract is his big shot and he shouldn’t leave money on the table.

If Hart opts into his $12.9 million for next season, the Knicks can offer him a four-year, $81 million extension after that (making the total value of his contract five years, about  $94 million). Essentially, Hart would take a little less next season to stay with the Knicks but would get the security of years at a fair market value on the back end. The Knicks lock up a key role player for five years and keep some financial flexibility in the short term. Plus, should the Knicks need to pivot (or trade for a star player), that size contract is very movable.

The question is, does that work for Hart,