New York Knicks: Which of Their Free Agents Will They Re-Sign?

The New York Knicks are on their way to the NBA playoffs for the second consecutive season, and it's not hard to see that interim GM Glen Grunwald's personnel moves this season are a huge reason why.

From being part of the drafting of Iman Shumpert and Josh Harrellson (with the help of Donnie Walsh) to picking up this season's surprise package in Jeremy Lin for a minuscule contract, Grunwald's work has been almost perfect so far.

As deep as the Knicks are, though, it will be a lot tougher to afford to field a team with so many quality players.

The Knicks have little-to-no space to maneuver around the salary cap in the coming offseason, and with nine players hitting free agency this summer, it'll be hard to keep them all in New York.

A lot of these players, like Jeremy Lin or Steve Novak, may well have earned contracts much bigger than the ones they have, making it tougher for the Knicks to afford to bring them back.

Still, there are a number of individual differences in these players' contracts, like player or team options and provisions in the new CBA, that affect their likelihood of returning to New York next year.

I'm going to take you through the how and why the Knicks will or will not re-sign each of these nine free agents.

J.R. Smith (Player Option)

2011-12 salary: $2,338,709

First on the list is J.R. Smith, and unfortunately for the Knicks, it's almost inevitable that he'll be departing at the end of the season.

Smith has a player option worth $2.5 million, but being realistic, he can earn a lot more in this league.

As a player with his level of offensive talent, the Knicks were lucky to get him to agree to such a low salary, but this was likely just a one-off because he was only going to play half of the season.

According to HoopsWorld, Smith is already expected to test free agency, and in what will likely be a theme for the Knicks all summer, his price range will be way too high if the Knicks want to bring back starting point guard Jeremy Lin.

Will he be back? No. He'll demand a big contract elsewhere.

Baron Davis (Unrestricted Free Agent)

2011-12 salary: $854,389

Heading into free agency, Baron Davis has done little to earn himself another big contract in the NBA, and this may make him an affordable option as the Knicks' back-up point guard.

Baron's return depends mainly on whether the Knicks believe he can come back healthy enough to contribute consistently next season. At the moment, with Mike Bibby potentially starting in the playoffs, that doesn't look likely.

Will he be back? No. His injury issues will scare the Knicks away.

Mike Bibby (Unrestricted Free Agent)

2011-12 salary: $854,389

There is no way Mike Bibby is getting any more than the veteran's minimum next season, so New York simply has the choice to sign him for depth or let him go.

Mike Woodson, who was Bibby's head coach during his tenure in Atlanta, appears to like the aging point guard. So if he stays on as head coach, Bibby will likely be back for another season in the Big Apple.

As a team that will likely be strapped for cap space if they choose to re-sign Jeremy Lin, Bibby will be one of only a few affordable and available point guards who could back up the young star.

Will he be back? Yes, if his three-point percentage improves in the playoffs.

Jared Jeffries (Unrestricted Free Agent)

2011-12 salary: $854,389

Previously an easy target for abuse from Knicks fans, Jared Jeffries has won over the New York crowd this season with his passion and defensive effort.

Jeffries is not the type of player who's going to demand a particularly big contract anywhere else, so the Knicks should be free to bring him back.

It appears that Jeffries loves playing in New York as well, but his return depends mainly on whether Mike Woodson loves him as much as Mike D'Antoni did.

Will he be back? Yes. He wants to be here and the Knicks need his defense.

Steve Novak (Unrestricted Free Agent)

2011-12 salary: $854,389

Though his scouting report hasn't changed from his time on other teams in the NBA, Steve Novak's stock has risen considerably this season, simply due to the fact that he's been given a chance to show off his shooting range.

Players as one-dimensional as Novak rarely get big contracts in the NBA—just look at James Jones and Matt Bonner—but I feel that things will be different with Novak.

Novakaine won't get major money, so to speak, but it will still be tough for the Knicks to bring him back if they also want Lin back.

Really, it'll be about convincing him to stay on, even if he can get a little more money elsewhere. It will be a lot like the Shawne Williams situation last year.

Will he be back? No, unless playing in New York is worth more to him than a larger contract.

Landry Fields (Restricted Free Agent)

2011-12 salary: $762,195

With the Knicks in possession of Landry Fields' Bird rights, he'll almost definitely be back in New York next year.

Despite losing his confidence in the second half of both of the last two seasons, Fields is still great value for his contract and the kind of player the Knicks will need to fill out their roster.

Fields' stock has really gone down in recent months, despite him being touted as one of the team's major trade pieces as early as last year.

This will keep down the amount the Knicks will have to pay to bring him back and should set them up for a reunion next season.

Will he be back? Yes. As a solid all-around player, he'll be perfect for the Knicks' bench.

Jeremy Lin (Restricted Free Agent)

2011-12 salary: $762,195

Jeremy Lin is the big name of Knicks free agency this year, but too much of a big deal is being made about it.

Yes, Lin is a free agent, but it is highly unlikely that he'll be leaving New York in 2012.

Due to the Gilbert Arenas provision of the new CBA, rival teams will be able to offer no more than the mid-level exception for Lin, meaning he'll be in New York if the Knicks brass want him back. 

The choice is theirs.

The only situation that would have Lin on a different roster would be if Steve Nash and the Knicks agree on a contract in the same range as Lin's likely contract. This would be a bad move for the Knicks, though, as the backlash from letting Lin go would almost be at the level of the hoopla surrounding his emergence.

Will he be back? Yes. The Knicks simply can't afford to let their only starting point-guard option leave

Josh Harrellson (Restricted Free Agent)

2011-12 salary: $473,604

As a 2011 second-round pick, Josh Harrellson is one of the lowest-paid players in the NBA. As such, his salary will effectively double next season per NBA regulations.

Still, doubling his salary doesn't even add up to $1 million, so the Knicks are hardly going to take a major cap hit by bringing the former Kentucky Wildcat back.

Harrellson provides good, cheap depth behind Tyson Chandler and Amar'e Stoudemire, and will almost certainly be back in blue and orange next season.

Will he be back? Yes, since he has such a small salary.

Dan Gadzuric (Unrestricted Free Agent)

2011-12 salary: Undisclosed

Dan Gadzuric has been in New York for literally five minutes and has yet to even see the floor, so it's hard to tell whether the Knicks will want him back.

Though details are yet to be released, Gadzuric will likely be on the veteran's minimum for the rest of this season. As a result, the Knicks will definitely be able to afford him if they want him back next season.

Gadzuric's performances in the playoffs (if he does get playing time down the stretch) will be key to him establishing himself worthy of another contract.

Will he be back? Yes. He'll prove himself worthy as a 12th player on the roster.