Overcap and Overpaid
It is one thing to be paying players so much that the team is over the cap; it is another thing to be overpaying the players who put the team over the cap. The Knicks have both problems and this affects their ability to trade.
The Knicks' committed salaries - rounded - for next year - 2008/09 - is $91M. With a top draft pick, the number will increase another $4.5M to $5M.
For the 2009/10 season, Stephon's $21.9M and Malik's $7.6M salaries will come off the books. Zach ($16M), Curry ($10.5M), QRich ($9.3M), Crawford ($9.3M) and James ($6.6M) have player options for that season, but. with the possible exception of Crawford, they are all overpaid and you can be sure that each of them will exercise his option. Its qualifying offer time for Nate and Lee, at $2.9M and $2.6M respectively. There are team options for Balkman, Chandler and Collins at $2M, $1.2M and $1.8M respectively. Barring trades or the non-exercise of team options, it looks as though the committed salaries for the 2009/10 season, with another high draft pick, will be about $75M.
For the 2010/11 season, if they are still with us, Nate and Lee will have new contracts, probably in the $7M to $10M ranges. On the other hand, James and QRich are off the cap. Balkman is up for a $2.9M qualifying offer and the team has options for Chandler at $2.1M and for Collins at $2.7M. As matters now stand, we have no first round draft pick for 2010. Zach's contract for the 2010/11 season is $17.3M, Curry's - player option - is $11.3, Crawford's is $10.1 and Jefferies - player option - is $6.9M. Barring trades and the non-exercise of team options, the Knicks will have salaries in the $70M plus range for 2010/11.
There is no real cap relief until the 2011/12 season. There is a team option for Chandler in that season for $3.1M, but otherwise no current commitments.
The players we want to trade now have extended contracts at salaries that other teams are not likely to want to carry. Zach, Curry and Crawford are with us until 2011/12. QRich and James are with us through 2009/10 and Jeffries is with us through 2010/11.
Crawford's and Curry's salaries are substantial, but not that bad. There may be some teams interested. Zach's contract is very substantial. He is going to be almost impossible to move. As I noted in a previous post, his numbers and remaining years are similar to Kirilenko's.
Sure it would be great to get expiring contracts and draft picks for our overpaid players, but I don't see that happening. We are not getting Kobe for James.
The Knicks need some patience. Maybe a new GM will work some magic. I just hope we can get the 2010 first round pick back from Utah. But I do not see us getting sufficiently under the cap by the time LeBron can opt out. And if LeBron ever comes to New York, I am afraid he intends to join Jay-Z in Brooklyn.