Meeting the media for the first time as a Knick last Friday, Tracy McGrady said that he would want to re-sign in New York – regardless of salary – if the team is able to lure two maximum-salary free-agents this summer."I've made a lot of money over my career," McGrady said. "I can retire right now and I can be fine financially …. If these guys were to bring in a LeBron [James] or a [Dwyane] Wade, along with a Chris Bosh or a [Amare] Stoudemire, I'd be a damn fool to not want to stay here …. Money will not be an issue."
Whether or not McGrady’s statement is sincere is up for debate. But there may be a viable path for the team and player to achieve a mutually beneficial result under the rules of the NBA’s salary cap.
If the Knicks do manage to sign two max players this summer, they may have little or no cap space remaining to sign anybody else to a contract above the veteran minimum salary which tops out at about $1.4 million per season (and is available to teams without regard to their cap position).
Assuming McGrady took this veteran minimum in 2010-2011, the Knicks would still hold his full Bird Rights the following summer and, using his Bird exception, could sign him to a large new contract starting in the 2011-2012 season (up to and including the maximum salary).
And this scenario could hold an additional and greater benefit for the Knicks. Coming off a veteran minimum contract, McGrady would have a cap hold in July 2011 of less than $1 million. With such a small cap hold, the Knicks would not need to renounce McGrady’s rights in order to use most all of the cap room the team is slated to have when Eddy Curry’s five-year contract expires in 2011 with a final-season salary of $11.3 million. The Knicks would be able to sign one or more free-agents using their cap room first, then use McGrady’s Bird exception to sign him to a new contract that far exceeds the NBA’s soft cap.
This summer, the Knicks could not provide McGrady any promises or assurances about what they will, won’t, might or might not do the following summer. The team also could not negotiate a new contract with McGrady in 2011 but wait to finalize the deal until after first using its cap room on one or more other free-agents – essentially reaching an agreement that is not actually executed until after the Knicks spend their available cap space. As long as there are none of these illicit communications between the team and player, all of the above is perfectly acceptable under NBA rules.
Read more: http://basketball.realgm.com/src_wiretap_archives/64992/20100225/how_mcgrady_could_fit_into_knicks_plans/#ixzz0ga6GkUiu
I can't say whethr or not TMac would take the risk involved here (i.e., no guarantees) but if he is fit and healthy, he could look at next year as an open audition for any team at the vet minimum. He clearly still has game, and he could land himself a large contract for 3 years or so atmaybe 7-10mil (incl. with the NYK).
Thoughts? Seems to me like a viable plan (sorry DLee).
