The New York Knicks had a ball at the free agency gala of 2010, but will likely stay home this time around, holding out hope that an invite for 2012 will come in the mail. That's right: a team whose stars are in their late-20s and who finished a game over .500 will be holding steady.
Here's a look at the Knicks' salary cap levels over the past six seasons.
It's almost like the franchise's philosophy on spending ridiculous amounts of money on mediocre talents drastically changed in 2008, or something.
Heading into free agency, the Knicks have a cap figure of $60 million with the leaguewide team salary cap set at $58 million and the luxury tax line at $70 million. The Knicks have the ability to add a player at the full mid-level exception if it so chooses.
The Knicks' free agents are:
- Jared Jeffries!
- Shawne Williams
- Roger Mason
- Shelden Williams
- Anthony Carter
- Derrick Brown (restricted)
Pretty much every reporter in New York (even those who don't cover basketball) says that the Knicks will retain Jeffries on a one-year deal. Shawne Williams is the other free agent with a strong likelihood of sticking, and assuming Brown is cheap, the team could make a play. Carter is one of those veterans who could end up just about anywhere, including New York.
The Knicks would love to hear their name re-inserted in the Chris Paul trade derby, but other squads with developed young talent -- you know, the stuff New York sent to Denver for Carmelo Anthony -- have edged their way in. So long as CP3 maintains his long-term preference is in New York, the Knicks will lurk.
Due to that, it actually probably does make sense for the Knicks to avoid multi-year contracts in free agency to preserve a modicum of 2012 cap space in case Paul really does like New York enough to take $25 million less. One-year deals will rule the Knicks out on most noteworthy free agents, though, meaning the roster will be treading water.
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