The salary cap implications of Longley retiring. This taken from Larry Coon's salary cap FAQ site.

There is one exception whereby a player can continue to receive his salary, but the salary does not count as team salary. This is when a player is forced to retire for medical reasons and a league-appointed physician confirms that he is medically unfit to continue playing. There is a waiting period of two years (if the injury or illness occurred between January 1 and July 1) or until the second July 1 following the injury or illness (if it occurred between July 1 and January 1) before a team can apply for this salary cap relief.

If a player retires, even for medical reasons, his team does not receive a salary cap exception to acquire a replacement player.

Finally some good news; although I don't wish an injury on anyone. How much $ do we get for Longley retiring? Is it enough to sign Shammond?

Here's a clip from ESPN:

Tuesday, August 7, 2001
Longley says he can't play on arthritic ankle

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Associated Press


SANTA ANA PUEBLO, N.M. -- New York Knicks center Luc Longley says he's "basically retired" because of his arthritic left ankle.


Longley


"It's such that I can't play on it," he said Monday. "It's a shame it's come down to this."

Longley said he has seen numerous specialists who have told him "it's a no-brainer."

Longley was participating in a golf tournament at Santa Ana Pueblo's golf course to raise money for a foundation that supports research and awareness of paralysis in children.

The 7-foot-2 center is in the middle of a six-year, $32.4 million deal with the Knicks.

"I have three years left on my contract, and I'd like to be paid," Longley said. "We'll see how it goes. Then, again, I'd like to be able to walk in five years."

League doctors would have to rule Longley medically unable to play for him to retire and be paid the balance of his contract, but he said that "hasn't been resolved yet."

Longley said he has no plans for retirement other than to live in Australia and reacquaint himself with his two children.

Longley played 7 minutes in the last 39 games last season after coming to the Knicks as part of a four-way deal that sent Patrick Ewing to Seattle.

Longley played in 25 games during the season after averaging nearly 20 minutes in 72 games with Phoenix the previous season.

He also played for Australia in the Olympics, but he did not practice because of the ankle.