A guy on Knickerblogger posted a comment highlighting why Hollinger liked the deal for the Knicks. This is what he said:

hollinger’s main points:

1) the knicks don’t worry about money, so don’t worry about how much they spent on this deal
2) centers are far more valuable than guards, so it’s good they spent on a center
3) they retained MLE because it’s a sign-and-trade
4) they can blow it up after 2014-15
5) it was dumb to use billups team option and then amnesty him

I don't get insider so I can't verify this but if the Knicks retain their MLE that is huge.

no, they tried to offer billups to someone but no one bited, who would want to pay his 14.2 mill contract when they have a chance to get him for a fraction of it....

since the amnesty didn't happen yet, hollinger probably thought billups wasn't going to be amnestied, therefore, assuming we would still have the MLE....

we have 2.5m exemption with the biannual as well?

we seem reluctant to give it to Shawne Williams, not sure if we have someone else in mind after Barea?
With the signing of Bibby, I would think its unlikely. I think we are not quite done looking for talent yet though?

We still have a couple roster spots open? Not sure if the Knick's are actually looking at any of Dallas's Euro picks.....