The New York Knicks will have their work cut out for them this offseason, but when you take a deeper look at this year's free-agent class, there are some bargains to be had.
With the team over both the salary cap and the luxury tax line, the Knicks' mid-level exception will be worth just $3 million this year, and there will be no bi-annual exception.
When it comes to re-signing their own free agents, New York may be able to bring them back without using that $3 million, as they are covered by both the early-Bird exception (for J.R. Smith) and the non-Bird exception (for everyone else). However, that will be contingent on the players taking a little less than they would get on the open market.
Once they've spent the taxpayers' exception, the Knicks will have to fill out the roster with minimum contracts. On the surface, that doesn't seem promising, but there are some decent players who may be willing to take less money for a chance to play in New York.
At this point, it's clear that the team needs to get younger, which is often hard to do with such limited cap flexibility. With that said, here are eight players who might go under the radar in free-agency discussions and may be available for a reasonable price.