The deal contains a player option on the final year of the deal, Jeff Zillgitt of USA Today adds (Twitter link). ESPN’s Ian Begley tweets that the contract contains a 15% trade kicker. The Hawks will have two days to make a decision on whether or not to match all the terms of the deal.
New York currently doesn’t have the cap space to make this lucrative of an offer. However, the organization has an easy path to opening up cap space in that it can simply renounce the rights to Derrick Rose, as ESPN’s Bobby Marks notes (Twitter link). Rose has a cap hold of approximately $29.7MM.
Hardaway Jr. was drafted by New York with the No. 24 pick in the 2013 draft. The Knicks traded him to the Hawks in a 2015 draft night trade that netted them Jerian Grant. Grant was traded to the Bulls during the following offseason as part of a package that brought Rose to the Big Apple.
Tim Hardaway Sr. tells Marc Berman of the New York Post (Twitter link) that his son has no “bad blood” with the organization. The shooting guard knows that the executive who traded him is no longer with the organization.