The Knicks have exercised their option to keep Tim Hardaway Jr. on his rookie scale contract through 2015/16, the team announced (Twitter link). He’ll make close to $1.305MM that season, as our Rookie Scale Team Option Tracker shows. Reports indicated that New York would pick up Shane Larkin‘s 2015/16 team option, too, but it appears that’s still up in the air.
Hardaway impressed in his rookie season after the Knicks made him the 24th overall pick in the 2013 draft. The 6’6″ shooting guard averaged 10.2 points in 23.2 minutes per game across 81 appearances, earning an All-Rookie First Team selection.
New York, which has targeted next summer for a free agent push, has about $32.7MM in commitments for 2015/16 as a result of today’s move. That doesn’t include Larkin’s option or a new deal for Iman Shumpert, who’d hit restricted free agency if he and the Knicks don’t sign an extension by the end of Friday.