Knicks Rumors: Josh Hart $12.9M Player Option Deadline Extended amid Contract Talks

The New York Knicks and swingman Josh Hart have agreed to extend negotiations until Thursday.

The original deadline for Hart to make a decision on his $12.9 player option for 2023-24 was Saturday, but ESPN's Adrian Wojnarowski reported that the two sides agreed to extend the deadline.

Hart just finished the second year of a deal he signed with the Portland Trail Blazers, and was acquired by the Knicks at the trade deadline. If he were to opt-out of the deal, he would become an unrestricted free agent.

Hart averaged 10.2 points, seven rebounds and 3.6 assists in 25 games after being acquired in February, and put up similar numbers in a postseason run that saw the Knicks reach the Eastern Conference semi-finals.

Hart has publicly claimed that he would opt-out of the deal earlier in June in an interview with Bleacher Report's Taylor Rooks, but expressed interest in remaining with the Knicks organization long-term. The team gave up Cam Reddish and a first-round pick in the trade for Hart. Portland used the first-round pick on Kris Murray.

Jake Fischer of Yahoo Sports reported in May that Hart could receive a contract worth $18 million per year if he were to opt-out of his deal. New York is currently projected to have negative cap space in 2023-24 and are $8.5 million under the current luxury tax threshold.