The Knicks recently made a statement by agreeing to sign Tyson Chandler to a four-year, $58 million contract.
The Knicks were already slightly over the cap so to make room for Tyson Chandler the Knicks will use their amnesty clause to take Chauncey Billups' hefty contract off the books. They will also look to ship Ronnie Turiaf off to another team.
The does not mean, however, that the Knicks are done spending. In fact, the Knicks still posses their mid-level exception which can be used to sign a player even while over the cap. The Knicks will definitely take advantage of this exception which can be used to sign a player for up to $5 million.
With Chris Paul off the market, after his reported deal to the Lakers, the Knicks will be willing to sign a player for multiple years using the MLE since the Knicks are now out of the running to sign a max contract player next offseason barring a trade.
The Knicks roster with Tyson Chandler is much more complete than last year's roster, but there are still holes in this roster. For one, the point guard position is a big question mark. It seems as if Tony Douglas is the best option there.
The Knicks could also use some help at shooting guard as Landry Fields is still developing. The Knicks could also use their MLE to sure up the center position. With Turiaf likely gone, a backup will be needed unless the Knicks feel Jerome Jordan is ready to play in this league.
Here are five players the Knicks can use the MLE on this year: