Knicks' Top Draft, Free Agency, Trade Options After OG Anunoby's Contract Opt-Out

The New York Knicks may need to re-evaluate its offseason plans.

Fred Katz of The Athletic reported that forward OG Anunoby rejected his $19.9 million player option, which sets him up to hit unrestricted free agency this offseason.

Anunoby was traded to New York in December and would average 14.1 points, 4.4 rebounds and 1.5 assists in 23 games for the team. He would also average 15.1 points, and six rebounds in nine playoff games, but his injury absence did impact the Knicks in its second round series against the Indiana Pacers.

While Anunoby's rejection does not rule out a return to New York, the Knicks will have to compete with the free market in order to get him back. It also means he will likely sign for a more significant monetary number, so the Knicks may have less cap flexibility than previously thought.

Here's a few directions the team could go in.

2024 Draft

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The New York Knicks have three picks in the 2024 NBA Draft, including No. 24 and 25 in the first round. That means that the franchise could add three new players to the roster, or potentially utilize the draft capital to move up or trade for an impact player.

Bleacher Report's Jonathan Wasserman projected the Knicks to take Virginia forward Ryan Dunn with the No. 24 pick, Dayton center DaRon Holmes II with the No. 25 pick and UCLA center Adem Bona with the No. 38 pick in his latest mock draft.

Other players that could be available include Pacome Dadiet, Bobi Klintman and Jaylon Tyson. Additionally, multiple picks toward the top of the first round may be on the trade block. This could potentially help the team net a player like Matas Buzelis, Cody Williams or Ron Holland, who were all projected as Top-10 picks by Wasserman.

These options would likely not replace Anunoby's production yet, but could be cheaper options that have development opportunity. Since New York's contention window appears to have just opened recently, grabbing a developmental piece could be appealing as opposed to overspending in free agency or on the trade market.

While it may cost more than just picks to make a significant move up the draft board, it could be an avenue New York looks towards.

Free Agency

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The most expensive but also easiest option to fill the Anunoby hole will be in unrestricted free agency. New York will enter the offseason with $45 million in first apron space and $56 million in second apron space, per Spotrac.

While New York may not want to dive too deeply into the luxury tax, it could be worth it considering the fact that the Knicks finished second in the Eastern Conference in 2023-24 and are in a win-now mode.

Re-signing Anunoby would be the most seamless transition, as he is familiar with the team already. However, he is not the only option available for the team, as players like Miles Bridges, DeMar DeRozan and Tobias Harris will be unrestricted free agents.

Additionally, LeBron James and Paul George could also hit free agency if they choose to reject their player options like Anunoby did.

Trade Market

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If the Knicks don't like the options in the Draft and in free agency, the trade market could be another area to pursue.

George could opt-in to his $48 million player option and be available, as the Clippers would likely look to move him if he does not want an extension. He is an expensive option in terms of salary, but he cost could be lessened due to his lack of a long-term contract.

While New York could risk losing him to the highest bidder next offseason, he could be the piece needed to push this team over the top and fit in well alongside Jalen Brunson.

Other trade options could include Portland Trail Blazers forward Jerami Grant, New Orleans Pelicans forward Brandon Ingram or even make a big splash and push for a player like Michael Porter Jr. or Mikal Bridges.