I've read a lot of what you all wrote on the deadline and frankly I don't have much to add that hasn't already been said. So for the sake of talking about something different, I got to thinking about the Knicks’ options come July 1 for Eddy Curry’s then expiring contract. I bring this up to show that there is more at stake in deciding on what to do with Curry than the knee jerk reactions of “I want him off the team” and “we need more cap space”.
Basically I see the options as:
A) Try to save some money off of the 2010 cap by buying him out with one lump sum.
Eddy is scheduled to be paid $11,276,863 next year. From what I remember about the payment schedule of Eddy’s contract (random but some time ago I did some work regarding his failure to repay a loan) he gets a couple of million on July 1 and then equal (smaller) payments for each month during the regular season (or at least that’s how this year was). I bring up the uneven payments and months of non-payment because this complicates the Present Value of what his contract is worth come July 1 2010. A fair deal would be for the Knicks to give him a lump sum of the PV less the league minimum vet salary that he would (ie – might) be able to secure from another team. Perhaps Eddy would be willing to surrender a little extra as a premium for being able to leave and get playing time elsewhere. After all, if Eddy is still hurting for money, his primary concern should be showcasing himself to increase the value of his next contract.
I don’t really see this option saving much off of the cap because the vet minimum is around 437k (if memory serves) and Eddy might not be in a position to leave any money on the table now, even if that is in his long term interest. Eddy’s financial situation impacts whether he needs the instant fund injection (baring in mind he likely gets a couple mil come July 1 anyway) and also whether he is willing to accept leaving some extra on the table to get away from D’Antoni.
Also, concerning the cap implications, I don’t know if the vet min would come off of the cap until Eddy were to sign with another team (might take a while). Maybe a quid pro quo could be arranged where he gets some playing time during the rest of this season in exchange for accepting less of a buyout. My guess is that this would be against the CBA and possibly the law (having an employee pay to work). Maybe something could be agreed upon before July 1 and executed only if Donny needs the cap room for a specific purpose.
I don’t like this idea mainly because Donny will have more important things to do come early July than to talk to Eddy.
I think the money saved would be smaller than most here would hope and that the Knicks would only do this if the money saved is substantial enough to impact their pursuit of a specific lower tier free agent such as Sergio Rodriguez. I think this because if Curry’s contract is bough out this Summer, the Knicks wouldn't be able to...
B) Trade it/him to a team looking for a salary dump.
Occasionally teams trade talent just so they don’t have to pay for it. With the CBA expiring and the owners expected to receive concessions from the players association in upcoming negotiations, chances are that similar talent to the below guys will be available as free agents for less than these guys are getting paid. However since all teams are aware of this, the below guys will be devalued accordingly in trade discussions. As such, the Knicks bargaining power in negotiations is higher than you might think because they can afford to take on these guys while other smaller market, lower budget teams might decide that they are better off with cap room to go after FA to be signed after the new CBA. The Knicks could still decide this too, but it is important to remember that the Knicks will be in need of a supporting cast.
Regardless it’s interesting if not imminently particularly useful just to keep in mind this list of players with substantial long term contracts that could possibly be had as a salary dump(the first salary number is for 2010-2011 season, subsequent ones for each other year).
Antawn Jamison 13.36 - 15.07
Gerald Wallace 9.86 – 10.65 – 11.44 p
Luol Deng 11.36 – 12.34 – 13.33 – 14.31
Nene 11.36 – 11.6p
Monta Ellis 11 – 11 – 11 – 11p
Corey Maggette – 9.6 – 10.26 – 10.92
Baron Davis 13.05 – 13.95 – 14.85
Emeka Okafor 11.54 – 12.54 – 13.54 – 14.54
Rashard Lewis 20.51 – 22.15 – 23.79
Andre Iguodala 12.34 – 13.53 – 14.71 –15.9
Jose Calderon 9 – 9.78 – 10.56
Hedo Turkoglu 9.8 – 10.6 – 11.4 – 12.2p
Andrea Bargnani 8 – 9 – 10 – 11 – 12
Gilbert Arenas 17.73 – 19.26 – 20.8p – 22.34p
Arenas will surely be available but more filler would be needed to make the salaries match. Deng, Davis, Calderon, Maggette, Iguodala, and Ellis have all been rumored to be traded primarily because they have long contracts. Okafor and Jamison have already been traded for this reason. Lewis gets paid so much, that Orlando is probably always open to offers. Nene is listed because Denver has done this type of move in the past with Camby. Gerald Wallace is listed mainly because I like his game, but also because he has a long contract in a small market and the Bobcats have done this type of move in the Okafor/Tyson Chandler trade. Also if Lebron leaves CLE Jamison should be available and if Bosh leaves Toronto, they might be open to trading Turkoglu, Calderon, or Bargnani to blow it up.
Chances are that the Knicks would have to offer with Wilson with Curry because they lack picks needed to otherwise sweeten the deal. However, not all of these guys would be worth a 2 for 1. But after the dust settles from the offseason or at next year’s trade deadline any number of deals could start to make sense. Deals such as: Curry and Wilson for Ellis and Anthony Morrow? Curry, Douglas, and Wilson for Calderon, Belineli, and Derozan? Curry, Douglas, and Wilson for Jamison and Gibson? Curry, Wilson, Douglas for Arenas and a 1st round pick?
At this point There are too many variables (who the Knicks get, if Lebron and Bosh leave, if LAC or CHI get someone big as a FA, if Gilbert gets voided, if Ellis and Nelson can coexist) to predict this far ahead. Also the Knicks could conclude that it might be better for the long term cap to not go this route. Instead they could decide to…
C) Let Curry’s contract expire and then use the cap room in 2011.
To be fair, the cap space would be there if Eddy takes a buy out too.
Here is a list of 2011 FA that should be looking for at least a lot of the possible $11,276,863 in extra cap room.
Al Horford ®
Jamal Crawford
Mo Williams (ETO – possibly exercised if Lebron leaves)
Caron Butler Nene (ETO)
J.R. Smith
Tayshaun Prince
Shane Battier
Mike Dunleavy
Troy Murphy
Mike Conley ®
Samuel Dalembert
Leandro Barbosa (player option – most likely not exercised if Amare leaves + he would want in if Lebron, Joe Johnson, and DAntoni are here) Jason Richardson
Tony Parker
Andrei Kirilenko
With only four players signed for next year it is entirely too early to speculate on which of these guys the Knicks would target over a year from now. But without Jeffries coming off books, the idea of going after Carmelo needs to be toned down a notch because baring a 1 year deal for around 6 million (TMac?) there wont be enough cap space for a max or near max player.
YET...
If the Knicks find themselves over the cap, Battier, Barbosa, Dalembert, Prince, Kirilienko, and Butler might be available for around mid-level exception money. Yet to be over the cap for Summer 2011 would require trading Curry rather than buying him out or letting it expire.
So as I see it, buying him out this summer (option A) could save enough money to tender a more competitive offer to a 2010 FA such as TMac or Sergio Rodriguez. Furthermore, doing so enables the Knicks to go after 1, maybe 2 guys listed in option C in 2011 whom would likely be signed to more favorable contracts under the new CBA.
On the other hand, trading for a guy from option B would allow the Knicks to make a deeper run in 2010 and then sign a guy from option C to the mid level exception.
Thoughts?
2/19/2010 9:09 PM LAST EDITED: 2/19/2010 9:10 PM