The New York Knicks announced Friday that the team has signed Mikal Bridges to a long-term contract extension.

The New York Knicks are celebrating after signing Mikal Bridges to a four-year, $150 million extension. The deal is a major bargain for the Knicks, who save some money to sign other players in free agency in future seasons while retaining one of their key pieces to the puzzle.

Mikal Bridges' teammate playfully joked about a $6 million "sacrifice" related to his major contract extension.