Knicks Trade Rumors: Courtney Lee May Be Moved to Free Cap Space for PG

The New York Knicks reportedly may move guard Courtney Lee so they can pursue point guards on the open market.

Alex Kennedy of HoopsHype reported Friday that New York has "considered" trading Lee to open up additional cap space, which would allow it to chase "significant" free-agent point guards.            

Lee is in the middle of a four-year contract worth slightly more than $48 million and is not an unrestricted free agent until 2020, per Spotrac.

The 31-year-old veteran played for the Orlando Magic, New Jersey Nets, Houston Rockets, Boston Celtics, Memphis Grizzlies and Charlotte Hornets before the 2016-17 campaign, which was his first with the Knicks. He averaged 10.8 points per game this past season and was a valuable weapon behind the three-point line, drilling 40.1 percent of his triples.

However, point guard depth is a need in the immediate future for the Knicks.

Stefan Bondy and Frank Isola of the New York Daily News said it was "a long shot" for the Knicks to bring back Derrick Rose after the 2010-11 MVP averaged 18.0 points a night in 2016-17. They also said financial issues diminished the chances New York would pursue top free-agent point guards such as Kyle Lowry and Jrue Holiday, but trading Lee could alleviate some of those concerns.         

The Knicks have 18-year-old rookie Frank Ntilikina—selected No. 8 overall in the 2017 draft—for the long-term future, but they could use a veteran presence at the position to mentor him at the NBA level and shoulder plenty of the minutes in 2017-18.