The 2016/17 Knicks season will be remembered for many things: Phil Jackson subtly – and then blatantly – suggesting the team would be better off without Carmelo Anthony; Charles Oakley being ejected and banned from Madison Square Garden; Derrick Rose disappearing with no explanation before a game; Joakim Noah receiving a 20-game suspension; Kristaps Porzingis skipping his exit interview.
New York’s results on the court were practically an afterthought, but they weren’t good either (31-51 record). So in addition to upgrading the roster, Knicks management will have to work this offseason to rebuild the franchise’s one-time reputation as a top destination for NBA players.
Here’s where things currently stand for the Knicks financially, as we continue our Offseason Salary Cap Digest series for 2017:
- Carmelo Anthony ($26,243,760)
- Joakim Noah ($17,765,000)
- Courtney Lee ($11,747,890)
- Lance Thomas ($6,655,325)
- Kristaps Porzingis ($4,503,600)
- Kyle O’Quinn ($4,087,500)
- Mindaugas Kuzminskas ($3,025,035)
- Willy Hernangomez ($1,435,750)
- Total: $75,463,860
- Maurice Ndour ($1,312,611)1
- Marshall Plumlee ($1,312,611)2
- Chasson Randle ($1,312,611)
- Total: $3,937,833
Restricted Free Agents
- Ron Baker ($1,512,611 qualifying offer / $1,512,611 cap hold)
- Total: $1,512,611
- Derrick Rose ($30,300,000)3
- No. 8 overall pick ($3,501,120)
- Justin Holiday ($1,471,382)
- Sasha Vujacic ($1,471,382)
- Total: $36,743,884
Projected Salary Cap: $101,000,000
Maximum Cap Room: $19,588,175
- Adding the Knicks’ eight guaranteed salaries to cap holds for their first-round pick and three empty roster spots, the team’s salary totals $81,411,825. Even after waiving their three non-guaranteed players and renouncing free agents like Rose, Holiday, and Baker, that wouldn’t be nearly enough for a maximum-salary contract, so the Knicks will have to get creative – or dump salary in a Carmelo trade – if they want to make a splash in free agency.
- Ndour’s salary becomes fully guaranteed after June 30.
- Plumlee’s salary becomes partially guaranteed ($100,000) after June 30.
- Rose’s cap hold is his maximum salary, based on a $101MM cap projection. If the salary cap is higher than $101MM, Rose’s cap hold would increase along with it, up to a maximum of $31,984,878.