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From David Aldridge
A source close to free agent guard J.J. Barea said Saturday that the Knicks and Timberwolves are both in pursuit of the 27-year-old, who starred in the postseason last spring during the Mavericks’ run to the NBA title.
The Knicks, according to the source, offered Barea a two-year deal. By using the amnesty provision on Saturday to waive guard Chauncey Billups and dealing forward Ronny Turiaf to Washington as part of the three-team deal that sent Tyson Chandler to New York, the Knicks technically fell under the cap, and thus lost their ability to use the mid-level exception starting at $5 million. They could use the new “room” exception for teams that are below the tax threshold that starts at $2.5 million.
so two years at 2.5 mil per year? He might not take that but we'll see.