Free agency won't be the most exciting time for the New York Knicks, but they can parlay the little flexibility they do have into some useful players.
Per ShamSports, the Knicks have more than $90 million in committed salary for the 2014-15 season. That assumes Carmelo Anthony, Amar'e Stoudemire and Andrea Bargnani decide against opting out and Toure' Murry signs for his qualifying offer price.
STAT and Bargs will surely be back, while Murry's status does not affect the matter we're discussing here. Let's assume that the Knicks resolve Melo's future before free agency kicks off in earnest; whether they convince him to stay another year, re-sign him or sign-and-trade him, they wind up paying the luxury tax no matter what.
That means they have only the mini-mid-level exception at their disposal this summer. As Larry Coon's NBA Salary FAQ outlines, that gives them just $3.278 million to spend, plus whatever minimum-salaried guys they're able to nab.
Phil Jackson will have to look at bargain-basement options as he begins his roster transformation. With needs at point guard and on the wing, his options will be slim, but he can go after a few guys to maximize his meager investment.