So first off, I would like to state my complete lack of understanding WHY the league would put the incumbent team at a disadvantage at re-signing its own player by limiting what they can offer vs. what any other team can offer as is the situation with the Knicks and iHart. What is the league's intent here? What problem is this rule solving?
Next, let me reiterate what I said in my OP that I would love the Knicks to bring back iHart next year. He is a great fit and I think it will be even better as our team continues to gel and with JR back next year.
However...
Let's say the Knicks get outbid with this mystifying rule, and he ends up in Oklahoma or whatever. In Empire Sports Media, they are suggesting that Valanciunas could be had for the MLE. I've been very impressed with him when N.O. played the Knicks, and seems like a similar player to iHart with a bit more offensive repetoire. With Thibs in his ear, could probably beef up his defensive prowess. Would the Knicks really drop off with Jonas V as a replacement for iHart?
(For the record, I have a hard time believing that iHart gets $20M while JV gets only the MLE, but just for discussions sake...)