Just to clarify the Knicks hold a team option for his 4th year as in all rookie contracts. If the Knicks don't pick up the option this summer he becomes a restricted FA this summer and the Knicks can match any offer and keep him which would affect cap space in 2015.
I don't see the Knicks going that route, I see them picking up his option this summer and letting him become an unrestricted FA, whether they want to pick him up when he becomes an unrestricted FA next year will depend how much he progresses from a somewhat disappointing season. Dealing him for filler and a 29th pick is still a non-starter to me but gets slanted to a possible deal if you can get both a 1st and 2nd pick for him this year. OKC may want to do that deal since they will be losing Sefalosha this year and could use a wing defender like Shump to replace him.
Shumpert is on the books this yr for $2.7mil.....
Options Goes as Follows
We can offer him an extension by October which would kick in next year<--------(I don't see his camp accepting unless the offer is lucrative)
Trade him this summer or wait until Dec 15 to the February deadline
Can't be trade at season's end
We can then extend him the QO next June to retain FROR....if done, we take a cap hit at 250% previous season salary so....$2.7mil x 250% comes to a July 2015 Cap Hit of $6.75mil
Not extend the QO(essentially renouncing him) and he becomes a UFA lose him for nothing in July 2015
Try to beg him to play for his QO salary(a la David Lee Nate Robinson style) $3.9mil come 2015<--------(I don't see his camp accepting)
Especially since Phil didn't take a paycut....Derek Fisher didn't take a paycut....Melo most likely won't take a paycut(nothing significantly noticeable) and this will be Shumpert's first opportunity at a big pay day. Coming from a guy who knows what it's like to blow your knee out.
Smart money says trade him first chance this summer best offer on the table. I wouldn't be opposed to trading him for multiple second draft picks if possible, particularly in this hella deep draft.