Donnie Walsh talked to the media about his stunning resignation as president of the New York Knicks on Friday, and claimed it was due to "lack of energy" needed to complete a multi-year contract.
Walsh told the media he could have completed a one-year deal with the appropriate zest for the job, but that doing so wouldn't have made sense in terms of the Knicks' rebuild timeline and the league's current labor situation. Walsh also said he didn't think Isiah Thomas, a Knicks consultant and Walsh's predecessor at the franchise's helm, had anything to do with the current situation. He thanked Knicks franchise owner James Dolan, and said he'd always been treated fairly.
But as Walsh completed his press session, multiple outlets began reporting that the Knicks' latest offer on a contract extension included a pay cut of 40-60 percent.