What can the Knicks do with $9 million?

The joke running around the league Thursday went something like this. Scott Layden has $9 nine million worth of cap exceptions at his disposal. We hear Frederick Weis is looking for a long-term deal.

It's cruel, but Layden's track record when it comes to spending money isn't too hot. Allan Houston's pulling down $14.3 million this season. Shandon Anderson is earning $6.1 million. Howard Eisley rakes in $5.3 million. Charlie Ward? $5.8 million. Travis Knight? $4 million.

In other words, league executives weren't exactly trembling in their boots when the NBA awarded the Knicks a $4.58 million disabled player exception Thursday after they determined that Antonio McDyess was out for the season. Combine that with the $4.5 mid-level exception that the Knicks never used this summer (Michael Doleac signed for the $1.4 million veteran's exception) and Layden has money to burn.

If he can find a good use for it, he'll be the first. The Heat signed Cedric Ceballos with their medical exception in 2000. The Spurs used theirs for Samaki Walker a few years back. The Rockets tried to use theirs on Marc Jackson last summer before the Warriors (thankfully) decided to match.

Layden can't combine the exceptions on one player, and the disabled exception can only be used on one player, meaning that his hands are tied to a certain extent.

The Knicks best hope is to try to work out a multi-player deal, trading the exception to make up the difference in salaries. With so many teams trying to get under the luxury-tax threshold, teams may be willing to deal if it makes their cap situation better. The unsubstantiated rumors were flying fast and furious by the end of the night.

Several GM's that Insider talked to confirmed that they had made calls to Layden, but declined to discuss the players they were willing to part with. Nick Van Exel's name continues to be the most bandied about. The Knicks actually couldn't use their exception on Van Exel (he makes more than $4.5 million) but could try to resurrect a Spree-for-Van Exel deal. The Knicks are also expected to revisit discussions with the Warriors concerning Danny Fortson (again, because of Fortson's salary, a multi-player trade would be required). Other possible candidates whose salaries fit into the Knicks' exception include the Grizzlies' Stromile Swift, the T-Wolves' Rasho Nesterovic, the Bucks' Anthony Mason and the Hornets' George Lynch.