On Tuesday, Kevin O'Connor of The Ringer reported a key question is whether the Spurs can create enough cap space for Porzingis, who could receive a max offer sheet of $122.1 million over four years as a restricted free agent in the offseason.
It's unclear whether the 23-year-old star will play at all this season, since the the Knicks are already fading from playoff contention with a 10-30 record. The extended absence likely won't deter interested teams from signing him as a restricted free agent because of his strong track record, though.
Porzingis averaged 22.7 points, 6.6 rebounds and 2.4 blocks while shooting 39.5 percent from three-point range across 48 appearances last season before he suffered the serious knee injury. He earned his first All-Star selection in the process.
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In April 2017, he told Sporta Avize in his native Latvia (via Marc Berman of the New York Post) he wanted to spend his entire career in NYC.
"Absolutely, I want to stay here all my career," Porzingis said. "But the thing I want most of all is winning. When the time comes, I will seriously start to think about it. Right now I just try to do my best."
Stefan Bondy of the New York Daily News reported last week the Knicks may attempt to re-sign Porzingis at below max value with injury protections. He noted it would be a deal similar to what Joel Embiid agreed to with the Philadelphia 76ers.
Porzingis may not be willing to accept such a pact, however, and the Brooklyn Nets are another team with potential offer-sheet interest, per Bondy.
If the Spurs make a serious run at the Knicks cornerstone, the next question is whether they'd try to create a frontcourt with LaMarcus Aldridge or trade the fellow power forward, who signed a two-year contract extension through the 2020-21 campaign, to free up cap space.