Apr 24, 2013, 2:01 PM EDT
Strike when the iron is hot. It’s not just advice for blacksmiths; it applies to NBA free agency as well.
The iron is never going to be hotter for J.R. Smith, the freshly minted NBA Sixth Man of the Year. He averaged 18.9 points per game and was one of the key reasons the Knicks are considered a threat in the playoffs.
The man wants to get paid, and his option with the Knicks for next season will pay him a below market $2.9 million. So as expected he will test free agency, reports Chris Sheridan at SheridanHoops.com.
Smith has a player option for next season, and a source close to Smith tells SheridanHoops.com that it is “very, very likely” that he will opt out of his contract and become an unrestricted free agent this summer.
If you’re thinking the Knicks will just pay whatever to re-sign him, welcome to the world of the new NBA CBA.
The Knicks are over the tax apron but have the “early Bird” rights to re-sign Smith, which means how much they can offer is limited. Sheridan explains it well.
An incumbent team (the Knicks in this case) can re-sign an early Bird free agent for the greater of either: (A) 175 percent of his salary under the terms of his immediately expired agreement, or (B) 104.5 percent of whatever the league’s average player salary is for the first year of the new deal….
Because Smith would be an early Bird free agent if he opts out this summer, under the first calculation, the Knicks can offer him a starting salary of $4.9 million by using the 175 percent rule….
But for all intents and purposes, we can safely assume that the average player salary will end up being around $5.34 million. Under the second calculation, the Knicks could give Smith a starting salary of $5.58 million.
What that means is the most the Knicks can offer is four years, $24.8 million (after raises). A team under the salary cap — say the Dallas Mavericks or Houston Rockets or a number of others — can come in over the top and offer more.
Not that any of them will, and it’s not to say Smith wants to jump ship. He likes New York. But the possibility is there and it’s tough to walk away from money on the table.
Jul 22, 2014, 1:24 AM EDT
Ray McCallum dropped 29 and even threw in a Jordan shrug.
Jul 22, 2014, 12:01 AM EDT
Would you rather have Harrison Barnes or Draymond Green?
Jul 21, 2014, 11:00 PM EDT
Hummel gets second NBA deal after spending season in Spain
Jul 21, 2014, 10:00 PM EDT
Former Colorado point guard out with ACL tear
Jul 21, 2014, 9:00 PM EDT
Jazz point guard will help national team prepare for World Cup this summer
Donald Sterling reportedly meets with Steve Ballmer, which might accelerate Clippers sale (or do the complete opposite)
Jul 21, 2014, 8:00 PM EDT
Donald Sterling also reportedly met with Shelly Sterling for three hours
Jul 21, 2014, 6:54 PM EDT
The Suns are going to be a League Pass favorite next season.
Jul 21, 2014, 6:22 PM EDT
Cooper, who coaches WNBA’s Atlanta Dream, expected to make full recovery
Jul 21, 2014, 5:29 PM EDT
Celtics fans are asking “why?” Good question.
Jul 21, 2014, 4:58 PM EDT
You doubted Kobe?
Jul 21, 2014, 4:00 PM EDT
Former No. 6 pick by the Wizards signs in Turkey
Jul 21, 2014, 3:30 PM EDT
Of course, George thinks the Pacers can regain their form and be a threat next season in the East.
Report: Stan Van Gundy tells Josh Smith, barring unexpected trade, forward will start season with Pistons
Jul 21, 2014, 2:44 PM EDT
Pistons reportedly never seriously interested in trading Smith to Kings
Jul 21, 2014, 2:41 PM EDT
Andre Drummond can be a funny man.
Jul 21, 2014, 2:11 PM EDT
I love the Rip City jerseys.
Jul 21, 2014, 1:33 PM EDT
Young signs with Pelicans, Bairstow with Bulls
Jul 21, 2014, 1:02 PM EDT
Put Coach K in the “we already know Love is elite” camp.
Jul 21, 2014, 12:30 PM EDT
It sounds as if former Stanford forward might give up hundreds of thousands of dollars (nearly his entire salary)
Jul 21, 2014, 11:44 AM EDT
I think his sentiments spoke to a lot of fans in Miami.
Jul 21, 2014, 11:05 AM EDT
Stephenson took less money overall, more money per year to leave Pacers for Hornets
- Red hot Ray McCallum leads Sacramento Kings to Summer League title with 77-68 win against Houston 0
- Lakers great Michael Cooper diagnosed with cancer 11
- Report: Stan Van Gundy tells Josh Smith, barring unexpected trade, forward will start season with Pistons 7
- Mike Krzyzewski would trade Andrew Wiggins for Kevin Love with “not one second of hesitancy” 66
- Mario Chalmers: “I never thought anybody would want to leave Miami for Cleveland” 65
- Las Vegas Summer League review: How did Andrew Wiggins, other lottery picks fare? 14
- Report: Knicks open to trading Iman Shumpert or J.R. Smith 29
- Top seven free agents still on the market 49