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NBA legend Charles Barkley reacts to the New York Knicks news

Jalen Brunson is coming off an incredible season in which he established himself as the best point guard in the Eastern Conference.

Friday, New York Knicks has announced that they signed Brunson to a contract extension.

Even more noteworthy was that ESPN’s Adrian Wojnarowski reported that Brunson took a favorable extension for the team.

Via Wojnarowski: “In an unprecedented financial concession to provide roster flexibility to a contender, New York Knicks star Jalen Brunson has agreed to a four-year, $156.5 million extension, his agent Sam Rose said of to CAA for ESPN — $113 million less guaranteed than he is eligible to receive in one year.”

Following the news, Charles Barkley gave his reaction (via ESPN).

Barkley: “I think he’s great. First of all, he’s a great kid and he’s a heck of a player. What he did for the Knicks, I think shocked everybody, I knew he was a good player, but he’s been great since A got to New York, I think he realizes if they take less money, because the Celtics aren’t going anywhere, the 76ers got better… I think he realized I’m going to make a few million dollars more and we won’t. Be competitive, nobody wants to do that. I’m happy for that kid, he’s a great kid.”

Brunson finished last season with averages of 28.7 points, 3.6 rebounds and 6.7 assists per contest while shooting 47.9 percent from the field and 40.1 percent from three-point range in 77 Games.

The Knicks lost to the Indiana Pacers in the second round of the NBA playoffs.