A couple of questions regarding McDyess:

1) I could be wrong, but I think McDyess's contract runs out at end of the season (2004). Let's say his salary this season is approx $12 million.

If we decide to let McDyess go at the end of the season, will we have a $12 million salary slot to fill, or would his salary slot just disappear from our team, thus lowering the amount we're over the cap?

I'm not too concerned about being over the cap (we're far over it anyway)--- I'm guessing that the only thing we'd get from giving up McDyess is $12 million of cap relief, which should make him decent trade bait (arguably a better value for other teams than Terrell Brandon, whose career has been over for a year or so already!). In McDyess's case, there still is the possibility of his return and the team owning his rights at the end of his contract would get first dibs on re-signing him at a likely reduced rate.

2) What happens at the end of McDyess's current deal? Would he be a restricted free agent (ie could we match other offers?!)?

Yeah, his salary will just disappear and lower the amount we're over the cap.

So if McDyess actually does come back... we'd need to re-sign him before the season ends (and he'd have to sign w/o testing the FA market). Our only advantage would be that he'd know the people in organization, right?

I can't see him signing on for 10+mil ever again, maybe MLE if he makes a decent recovery.

I say if he doesnt play let his contract expire and take the loot.

Posted by nyvector16:

Here's an interesting question...
If a team is 5Mil under the cap.. can they combine that 5Mil and an exception for a player worth over 9Mil?

2nd question:
Can both exceptions be combined?

No.

That is alot to come off the cap....but it isnt enough to really make a difference in signing a top tier free agent. Remember you still have to sign draft picks the next couple of years....and the Knicks will probably spend some money in free agency to replace departed players.