New York Knicks
Guaranteed Salaries: $55,134,798
Draft Pick Cap Holds: $0
Maximum Cap Space: $35,060,905
The Knicks could be armed with more than $35 million in cap space to add pieces around Carmelo Anthony and the newly acquired Derrick Rose. Here’s how they get there:
-Waive the non-guaranteed contract of Tony Wroten. This step is already complete, as the Knicks waived Wroten last week, who was then picked up by the Memphis Grizzlies.
-Renounce their Early Bird rights on Kevin Seraphin, Lance Thomas, Langston Galloway, and Cleanthony Early.
-Renounce their non-Bird rights on Arron Afflalo, Derrick Williams, Lou Amundson, and Sasha Vujacic. Afflalo and Williams together account for about $16 million in cap holds on the Knicks’ books.
With Rose in town and Anthony lobbying for free agents, it looks like the Knicks may even get a meeting with Kevin Durant, who they could fit under their cap with almost $10 million to spare on other pieces to fill in the rest of the team around Rose, Durant, and Anthony. Dwight Howard is another potential target for the Knicks, though his max contract would start around $31 million in 2016-17. New York can fit either Durant or Howard under their cap even if they choose to keep their rights on Langston Galloway, whose cap hold is a mere $2.73 million on their books.
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