Amar'e Stoudemire, Knicks Reportedly Agree to Buyout
Almost since the moment he signed his five-year, $100 million contract in July 2010, New York Knicks fans have been dreaming of ridding themselves of Amar'e Stoudemire's onerous salary.
The 32-year-old forward reached a buyout agreement with the Knicks on Feb. 15 and the team subsequently waived him.
Continue for updates.
Stoudemire Waived After Buyout Agreement
Sunday, Feb. 15
Stoudemire reached a buyout agreement with the New York Knicks, as Frank Isola of the New York Daily News initially reported:
The team later officially waived Stoudemire, with team president Phil Jackson making the following announcement via the Knicks' official site:
"Amar’e’s period as a Knickerbocker has come to pass, at his request. His time here should be marked by recognizing his effort – it was 100-percent. As we move forward in structuring this team, we will look for players that exhibit his desire to win.
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General manager Steve Mills also commented:
"Everyone here at the Knicks organization appreciates the contribution Amar’e has made to the team and the entire City of New York over the past five seasons. We have developed a relationship that has translated into a long-term friendship, and it will continue through the remainder of his NBA career, and beyond.
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Stoudemire added a statement:
"I feel truly blessed to have been able to play for the incredible New York fans, Mr. Dolan, my coaches, teammates and the entire Knicks organization for the past five years, I will be forever grateful for the opportunity to contribute positively on the court and in the community. Although I leave the Knicks with a heavy heart, I wish the organization the best of luck. Once a Knick always a Knick.
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Isola noted three potential suitors for the power forward:
"Several teams in the Western Conference are expected to pursue Stoudemire, who would be a solid addition to a playoff team as a reserve. The Dallas Mavericks have already been mentioned as a possible destination. Two others clubs in the West that could be in the running are San Antonio and Golden State.
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On Feb. 11, Stoudemire and the Knicks initiated discussions on a potential buyout, per Peter Botte of the New York Daily News.
On Feb. 7, ESPN.com's Tim MacMahon and Marc Stein reported the Mavericks would be the favorites to land Stoudemire if he were to become a free agent.
Stoudemire to Make Decision on Future with Knicks over All-Star Break
Friday, Feb. 6
Marc J. Spears of Yahoo Sports passed along comments from Stoudemire regarding his future with the Knicks and the potential for a buyout of his contract:
"It's not an easy decision to make. Over time, we will see how things pan out. You give yourself a break during the All-Star break. You think about it with your family. …That will give me a good solid week on how to weigh out the rest of the season. ...
... All possibilities at this point are still open. The door is still open for that. But at the same time, I am with the Knicks now. I got to stay optimistic about things and what we are doing here. I can't really focus on the future because it's not here.
We still have a couple weeks left before it's all said and done. It's a decision I have to make with my family to figure out the best scenario for the near future.
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Stoudemire spoke on his relationship with the Knicks, noting it wasn't a factor in his decision-making process, according to Spears: "I'm sure we will have an open discussion about it. We have a great communicative relationship with the Knicks. I am sure we will make a sound decision together."
No Current Plan to Trade Stoudemire
Monday, Jan. 12
In a report from ESPN.com's Marc Stein and Ian Begley that cited Jose Calderon and Andrea Bargnani as the two Knicks likeliest to be heading elsewhere next, it was "stressed" by sources that Jackson has no current plan to trade Stoudemire.
The six-time All-Star is making $23.41 million in the final year of his deal. Hampered by chronic knee injuries, Stoudemire has averaged 12.2 points and 7.0 rebounds in 32 games played this season.
Over the last couple of seasons, Stoudemire has been involved in trade rumors. His salary coming off the books this summer is one of the chief reasons New York is expected to have a maximum salary slot available for a prospective free agent.
Any team absorbing even a prorated portion of Stoudemire's money will expect the Knicks to take back long-term salary or give up draft-pick compensation. With the club jettisoning J.R. Smith and Iman Shumpert to Cleveland in exchange for non-guaranteed salaries and flotsam, giving up assets is likely not part of Jackson's plan.
Stoudemire is a useful offensive player when healthy. Jackson may see him as someone who can fit into the Knicks' future as a form of instant offense off the bench, assuming at a much lower cost. At the very least, it's looking possible that Stoudemire finishes out his deal in the Big Apple.
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