Unrestricted Free Agents
J.R. Smith (Players Option)
Team Salary: (I do not list qualifying offers for restricted free agents)
Carmelo Anthony: $19,887,905
Amar’e Stoudemire: $19,948,799
Tyson Chandler: $13,604,188
Iman Shumpert: $1,633,440
J.R. Smith: $2,612,500 – Player’s Option
Toney Douglas: $2,067,880
Jerome Jordan: $762,195 – Non Guaranteed
Josh Harrellson: $762,195 – Non-Guaranteed
Cap Space: $58 million (Note: Cap Space for next season is determined after the league’s audit in July. For 2012, this time is from July 1-10, so the specific amount will be set then, but it’s assumed it will be set at the same number)
Luxury Tax Line: The team will pay dollar for dollar for what their team salary exceeds over the luxury tax line, In this circumstance, New York is under the $70 million Luxury Tax Line.
Team Cap Holds: (A ‘cap hold’ is the amount of space a free agent counts towards a team’s cap. If said player signs with new team, re-signs, or player is waived the cap hold is eliminated)
Dan Gadzuric: $854,389
Mike Bibby: $854,389
Baron Davis: $854,389
Jaried Jeffries: $854,389
Steve Novak: $854,389
Landry Fields: $854,389
Jeremy Lin: $854,389
The biggest issue now for the Knicks is if Jeremy Lin and Steve Novak can retain their Birds’ Rights. The players’ union is currently appealing this fact to an independent arbitrator in which they argue Lin and Novak (whom New York picked up off of waivers) should retain their rights just like traded players would. If the ruling is in the players’ favor, they New York will be able to re-sign BOTH by exceeding the salary cap.
However, if the ruling goes in favor of the league, New York will be forced to use the MLE on Lin and makes it more difficult for New York to retain both Novak and Lin. Despite this, if the MLE is used on Lin, it would leave the bi-annual MLE or the veteran’s minimum as the most likely offers for Novak.