NEW YORK — The New York Knicks’ 53-year championship drought is over, which means their title defense has officially begun.

They enter the offseason with eight players — including all five starters — under contract for next season, and that doesn’t include Jose Alvarado, who holds a $4.5 million player option.

It’s an enviable position for a Knicks team whose championship window remains squarely open, but that doesn’t mean there won’t be tough decisions this summer for president Leon Rose and his group.

Should the Brooklyn-born Alvarado exercise his option — which is certainly no guarantee — the Knicks would have $205.5 million committed to nine players for 2026-27. Add in the No. 24 pick in this month’s draft, which is projected to carry a $3.4 million salary next season, and the Knicks’ payroll would be $209 million.

That gives them a little bit of flexibility below the restrictive second apron of the salary cap, which is projected to be $222 million next season.

But not much.

Operating under the expectation the Knicks would be willing to go into the second apron, here’s a breakdown of what awaits the Knicks this offseason.

Mitchell Robinson

Robinson is the Knicks’ top impending free agent, as his elite abilities as an offensive rebounder and rim protector make the backup center an important part of their roster.

But Robinson’s value is complicated.

The 7-footer’s track record of ankle injuries caused the Knicks to limit Robinson’s playing time. He appeared in 60 regular-season games — his most in four years — but never played on back-to-back days.

And opponents targeted Robinson’s shortcomings as a free-throw shooter throughout the playoffs, intentionally fouling him and forcing the Knicks to decide whether they could keep him on the floor. Robinson totaled only 13.4 minutes per game in the NBA Finals.

Whether Robinson, the longest-tenured Knick, returns for a ninth season and beyond likely comes down to his value on the open market.

ESPN’s Bobby Marks suggested a three-year, $39 million deal, but the center-needy Los Angeles Lakers — desperate to pair Luka Doncic with a lob threat — are among the teams that will enter free agency with cap space and could drive up the price.

Third-string center Ariel Hukporti is also a free agent, but even if he re-signs, the Knicks will need to further address the position.

Keep an eye on the No. 24 pick, where UConn center Tarris Reed Jr. or St. John’s forward/center Zuby Ejiofor could fit.

Landry Shamet

Shamet’s value rose with his strong performance in the playoffs, where he shot 47.5% on 3-pointers and flashed defensively as well.

The Knicks hold only Shamet’s Early Bird Rights, which limits how much they can pay him — the same scenario they lost Isaiah Hartenstein under two years ago.

However, Shamet’s market is not expected to stretch beyond what the Knicks can offer, so if he leaves, that won’t be the reason.

Shamet, 29, is a favorite of head coach Mike Brown. He’s played for six teams in eight NBA seasons. He’s found a home with the Knicks in the last two, so a reunion makes sense for both sides — with a nice raise on the one-year, $3 million deal he played on this year.

Jose Alvarado

Alvarado, 28, could surely fetch more than $4.5 million if he tests free agency, especially after a solid Finals in which the reserve point guard’s energy and ability as a second ball-handler gave the Knicks a lift.

By all accounts, Alvarado loved playing for the Knicks, his favorite team as a kid. Madison Square Garden isn’t too far from Queens’ Christ the King, where Alvarado played high-school basketball.

The workaround could be Alvarado picking up his option, then signing an extension with the Knicks, which would push the larger cap numbers into the future.

But if Alvarado — who would likely find a multi-year deal worth somewhere around $10 million annually in free agency — opts out and signs elsewhere, it could lead to a larger role for 25-year-old point guard Tyler Kolek in his third season.

Jordan Clarkson

Clarkson spent this season on a one-year, $3.6 million deal, and while his playing time and role fluctuated, he proved to be a solid veteran for a championship team.

But the 34-year-old guard averaged only 7.5 minutes per game in the Finals, and as he enters unrestricted free agency, he is unlikely to be a major priority for the Knicks.

Miles 'Deuce' McBride

Entering the final season of a three-year, $13 million deal, McBride represents one of the best bargains in basketball.

He averaged 12.0 points per game in the regular season, then shot 37.5% on 3-pointers in the playoffs, despite having a quiet Finals.

The Knicks would happily feature McBride in an important role on his ultra-reasonable $4 million contract next season.

But if Shamet and Alvarado both re-sign, maybe McBride becomes more expendable, rather than the Knicks simply losing him for nothing next offseason when he’s due a big pay increase.

Or, if more dramatic roster reshaping takes place due to the cap, the Knicks could try to extend McBride with the idea of him being an even bigger piece of their future.

Karl-Anthony Towns

Towns has two years remaining on his contract, but he’s eligible for an extension this summer.

He’s due $57 million in 2026-27, then holds a $61 million player option for 2027-28.

Fresh off of a dynamic playoff run, Towns can sign a three-year extension worth up to $208 million, according to CBS Sports. That, on top of his current deal, would bring the Knicks’ total commitment to Towns to five years and $326 million.

If he declines his 2027-28 option, Towns could sign a four-year, $272 million extension — bringing the total value to five years and $329 million.

Both are major commitments for a player who turns 31 in November.

That’s not to say Towns, a New Jersey native and childhood Knicks fan, would try to fight for the last dollar. Jalen Brunson and Mikal Bridges both left money on the table when they signed extensions for the betterment of the rest of the roster.

But the Towns negotiations will be something to watch this offseason, as his ability to opt out next summer would otherwise hang over the season.

Josh Hart

Hart, too, is extension-eligible this summer, though he has less leverage than Towns.

That’s because the final year on Hart’s contract is a team option, not a player one, meaning the do-it-all guard is under team control for the next two seasons.

Hart is set to make $20.9 million next season, and then $22.4 million in 2027-28, assuming the Knicks pick up that option.

He is reportedly eligible for a four-year, $131 million extension — which would be a major commitment (and probably more than it would take to reach an agreement) for a player who turns 32 next season.

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