After 2003-2004, McDyess, Knight, and Ward will all be off the cap. That means a $24,457,779 after 2004, not to mention LJ and Longley coming off after this season. The following season Sprewell, Harrington, and Thomas all come off the books for a $23,295,000 cap dump. That's $47,752,479 off the cap by 2005, not to mention LJ and Longley coming off after this season (I belive that's the case, since both had 2 year buyouts signed last summer.) Even if McDyess works out, in 2 years if there is still a poor economy and/or new ownership, he might not be resigned. If there was rebuilding, it'd fly by since the Knicks cap situation would be favorable with only Houston, Eisley, and Anderson remaining with absurd contracts. You have to figure at least one or two would be able to be traded in a package.

Everyone keeps talking about if McDyess isn't healthy or this doesn't work out, if it doesn't, it's really not a big problem since the Knicks have a favorable future salaries. Maybe Layden has a plan after all.

Well here's a clear chart of the current payroll for years to come

http://www.hoopshype.com/salaries/new_york.htm

And it probably means the knicks will have to pay luxury tax for at least 3 seasons trades excluded.

(I believe that's the case, since both had 2 year buyouts signed last summer.)

Thankfully that's how the CBA works, eventhough both buyouts are spread over numerous years once a player retires it's either two years on the cap or less if his contract was for fewer years. For those who have more questions about the CBA this site is pretty handy..

http://members.cox.net/lmcoon/salarycap.htm