SNY’s Ian Begley confirms that Hart and New York agreed to extend their midnight deadline on Saturday until Thursday, June 29.
Hart could opt-in and extend off a $12.9 million contract or decline the option and become an unrestricted free agent where he’ll be able to sign a new deal with either the Knicks or another team.
If Hart agrees to the player option he would be eligible to sign a four-year extension worth up to $80 million with the Knicks in August.
The Knicks traded for Hart in a trade deadline deal with the Portland Trail Blazers. After his acquisition, Hart helped turn around the Knicks. The 28-year-old averaged 10.2 points, 7.0 rebounds, 3.6 assists and 1.4 steals in 30.0 minutes per game in the regular season after being traded to the Knicks.
Oftentimes coming off the bench, Hart gave the Knicks a spark with his rebounding and defensive skills, as well as his energy and hustle.
He was instrumental in the Knicks’ first-round matchup against the Cleveland Cavaliers, a series New York won in five games. He averaged 11.6 points and 7.8 rebounds per game. Although the Knicks would be eliminated by the Miami Heat in the second round, Hart’s first postseason run saw him average 32.1 minutes, 10.4 points, 7.4 rebounds and 2.2 assists in 11 total games.
While the Knicks and Hart agreed to an extension, the team already decided to decline Derrick Rose‘s team option earlier on Saturday.
The extension was first reported by ESPN.