2012 NBA Free Agents: Players the New York Knicks Can't Afford to Let Walk Away

It won't be easy for the New York Knicks to finalize their summer plans until a hearing determines the status of the bird rights that once belonged to restricted free agents Jeremy Lin and Steve Novak.

Since Lin and Novak were both acquired off waivers, the NBA is maintaining they lost their bird rights, meaning the Knicks wouldn't be able to re-sign them without making use of cap exceptions. Conversely, if New York is allowed to keep Lin and Novak by simply going over the salary cap, its mid-level exception would be preserved for use on another player.

The New York Times' Howard Beck explains the implications for the Knicks' front-office planning:

"

If the union prevails, the Knicks would be able to re-sign both Jeremy Lin and Steve Novak, their top free agents, despite cap constraints. They would also retain a $5 million salary slot — known as the midlevel exception — for use on another player, possibly J. R. Smith, who can opt out of his deal.

But if the union’s challenge fails, the Knicks will probably lose Novak and possibly Smith when free agency opens in July. And they will have little ability to sign a significant free agent like point guard Steve Nash once they re-sign Lin.

"

While the Knicks' unique situation will leave free-agent matters up in the air for the time being, here's a look at the free agents New York will eventually have to make decisions on. Some are all but irreplaceable; others are practically destined to be replaced.

Jeremy Lin (Restricted)

While Lin's agent isn't making any promises about next season, it's no secret that New York will do just about everything within its power to hold on to him. And they absolutely should. Beyond his obvious marketability, Lin's a great fit on the hardwood and in the locker room as well.

Landry Fields (Restricted)

Besides becoming fast friends with Jeremy Lin, Fields has also become a reliable "glue guy" in his two pro seasons (both with New York). He rebounds, plays defense and has the potential to be a solid scorer. His long-range shot wasn't nearly as consistent as it was his rookie season, but it's just too hard to replace all the little things Fields does on the wing.

Baron Davis (Unrestricted)

As nice as it would be to keep Davis around as an insurance policy at the point, chances are he won't even be playing next year after a catastrophic knee injury in New York's first-round series against the Miami Heat. The Knicks will certainly be able to live without Davis, but they'll still have to find someone to play that backup role.

J.R. Smith (Player Option)

Holding on to Smith might be a smart move for New York, but it's also somewhat of a luxury. As valuable as he was toward the end of the season, he won't have a very prominent role with the club so long as the younger Iman Shumpert and Landry Fields are still around.

Steve Novak (Unrestricted)

Assuming the Knicks are able to retain Novak, they absolutely should. The 6'10" sharpshooter made 47 percent of his three-point attempts during the regular season and appears to be hitting his prime. He gives New York the opportunity to spread the floor when he comes into games, and there aren't many players on this roster who can do that.

Mike Bibby (Unrestricted)

Were it not for how thin injury has made the Knicks' backcourt, Bibby would seem pretty expendable. If New York can get its hands on a guy like Raymond Felton, Jameer Nelson or Andre Miller, he may wind up being exactly that.

Jared Jeffries (Unrestricted)

If Jeffries will re-sign for next to nothing, he's worth keeping in the fold. He'll hustle and draw more than his fair share of charges. But, if he winds up costing much more than $1 million a year, it's time to move on.