Key keywords: Landry Shamet, New York Knicks, 2026 NBA Title, Landry Shamet contract details, Knicks 2026 free agency, 2026 NBA offseason, Knicks championship roster, NBA free agency rumors, Landry Shamet extension Weeks after the New York Knicks claimed their first NBA championship in 53 years with a 4-2 series win over the Boston Celtics in the 2026 NBA Finals, new league rumors have uncovered full contract details for sharpshooter Landry Shamet’s new deal to stay in New York. Shamet, who was acquired by the Knicks in a midseason trade with the Phoenix Suns in February 2026, emerged as one of the most critical role players on the championship roster, averaging 8.9 points per game on 42.7% 3-point shooting during the regular season, before upping his production to 11.2 points per game with a 45.1% 3-point clip across 22 postseason appearances. His clutch performances in the Finals, including a game-tying 3-pointer with 28 seconds left in Game 4 and four 3-pointers in the series-clinching Game 6, made him a fan favorite at Madison Square Garden and a top priority for the Knicks front office in the 2026 offseason. According to league sources familiar with the negotiations, Shamet’s new contract is a 3-year, $27 million deal, with a $9.5 million team option for the 2028-29 season and up to $1.5 million in annual performance incentives. The incentives are tied to benchmarks including a 40%+ 3-point shooting rate over the regular season, at least 70 regular season appearances, and a deep playoff run for the Knicks. The deal marks a slight pay cut for Shamet, who was eligible to sign a 4-year, $40 million contract with multiple competing teams in free agency, but opted to take less money to remain with the Knicks core of Jalen Brunson, Julius Randle, and RJ Barrett that delivered the 2026 title. Knicks general manager Scott Perry has not yet officially confirmed the deal, but told reporters earlier this week that retaining the team’s key role players is the top priority ahead of the 2026-27 season, as the franchise looks to build a sustainable dynasty capable of defending its title and competing for championships for the next half-decade. Cap analysts note that Shamet’s deal leaves the Knicks with enough remaining salary cap space to retain two other key rotation players from the 2026 roster, with restricted free agent guard Immanuel Quickley and backup center Mitchell Robinson next in line for contract extensions. The deal is expected to be officially announced by the Knicks during a press conference next week, alongside the team’s championship ring ceremony schedule for the 2026-27 season opener at Madison Square Garden.