Despite the New York Knicks’ dire financial straits, there are still gobs of under-the-radar free agent bargains available cheap enough to fit and improve the roster. Which ones, though, will be worth their thimble of salt and help take the team into the Eastern finals?
The Knicks will only have either the mid-level tax exemption ($3.18 million) or veteran’s minimum (about $1.2 million) contracts to work with—even with Jason Kidd’s salary forfeiture. Kidd has agreed to give up the whole $6.18 million remaining on his final two years.
James White’s $1 million team option will (hopefully) be declined.
Still, the Knicks 2013-14 payroll is already at $71.7 million with only seven players signed: Carmelo Anthony, Amar’e Stoudemire, Tyson Chandler, Marcus Camby, Steve Novak, Raymond Felton and Iman Shumpert.
That’s already over the $58.5 million salary cap and $71.6 million especially-punitive luxury tax threshold, and soon to be over the further-limiting $75.6 million luxury tax apron (threshold + $4 million).
Confirming @espnsteinline tweet -- league's projected cap/tax for 2013-14 is currently $58.5M & $71.6M. For 2014-15 it's $62.1M & $75.7M.— Larry Coon (@LarryCoon) June 3, 2013
A-bargain-hunting the Knicks will go.