Jordan Clarkson's contract will help the Knicks avoid a major penalty

It's been almost a month since the Knicks won their first NBA Finals in decades, but their focus is already on next season.

New York is attempting to be the first team to go back-to-back since the 2017-18 Warriors.

They've made a step towards that goal, as they just got a contract update on one of their rotation players from the 2026 title roster.

Jordan Clarkson's contract will help the Knicks avoid a major penalty

ESPN's Shams Charania announced Thursday morning that guard Jordan Clarkson is returning to the Knicks in the 2026-27 season.

He signed a new one-year contract, worth $3.9 million.

Clarkson's only season with the Knicks was this past year, but he'll return for at least another year after a productive regular season and postseason role off the bench.

MORE: LeBron James gets major retirement update after rumors of film crew following him next season

The former Sixth Man of the Year winner played 72 games, averaging 8.6 points off the bench.

The move still keeps the Knicks under the second apron as it stands for the 2026-27 season.

Members of the organization have voiced the importance of being under the second apron, as it will help the franchise avoid financial penalties and restrictions in the next few years.

The team also has room to sign one more player to a cheap contract to fill out their roster.

More NBA news:

• Thunder send message to teams interested in trading for Chet Holmgren
• Timberwolves have interest in four-time NBA champion
• Warriors have a Draymond Green dilemma if they sign LeBron James
• Lakers commitment to Walker Kessler could be costly for this key reason
• What Kawhi Leonard trade means for Raptors' plans with Jakob Poeltl, RJ Barrett and others