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Old 05-12-2012, 10:43 AM   #1 (permalink)
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NYK in cap hell

With Mike Woodson coming out and saying that the Knicks will "definitely" re-sign Jeremy Lin, it's got me thinking about the Knicks' precarious salary cap situation and, more importantly, how the Rockets can once again exploit it!

If the Knicks re-sign Lin to anything more than the Taxpayer MLE ($3.09M for the first year, and for no longer than three years), or if the Knicks instead match any offer sheet for Lin in excess of $3.09M or that is longer than three years, then the New York Knicks will be facing a HARD CAP at about $74.3M next season.

That's right, folks. A HARD CAP. This even includes signing draft picks, adding minimum salary players, etc. Everything.

With Melo, Amare, Chandler, Douglas, Shumpert and the "dead money" that is Renaldo Balkman (who NYK stupidly waived rather than dump via trade) all on the books for next year, the Knicks have about $59.4M tied up in just five roster spots. If you assume that Lin gets an offer for the full Non-Taxpayer MLE ($5.0M) from somebody (approximately the maximum initial salary offer Lin can receive due to being an "Arenas" RFA), and that the Knicks match it, that puts the Knicks' salary at $64.4M for six spots.

That leaves New York with about $9.9M--absolute total--to spend on the remaining 6-7 roster spots, with no room to add more veterans for the minimum.

This is WITHOUT counting any potential salaries for Landry Fields, JR Smith, Steve Novak or any other meaningful Knicks contributor not specifically mentioned above.
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Last edited by jeffb; 05-12-2012 at 10:48 AM.
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