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.
Apr 16, 2014, 10:31 PM EDT
Vegas nailed the lines for season win totals for four NBA teams almost exactly.
Apr 16, 2014, 9:14 PM EDT
The matchups aren’t all set, but this gives us an idea of who plays when as the playoffs open this weekend.
Apr 16, 2014, 7:48 PM EDT
Knicks make it official and announce they’ve signed Lamar Odom for the remainder of the season.
Apr 16, 2014, 6:59 PM EDT
Durant and LeBron at the top of the MVP ballot is easy, it’s filling out spots 3-5 that is the challenge.
Apr 16, 2014, 6:15 PM EDT
Kohl is going to pitch in $100 million to get a new arena built in Milwaukee.
Apr 16, 2014, 5:15 PM EDT
Teams will like his speed, but he’s destined for a second round pick.
Apr 16, 2014, 4:29 PM EDT
While the Lakers end their dreary season Kobe Bryant is already on vacation.
Apr 16, 2014, 3:46 PM EDT
Clippers forward: ‘It doesn’t really affect me, but so many guys would probably benefit’
Apr 16, 2014, 2:49 PM EDT
The Spurs have crushed the Grizzlies and Mavericks this season, so those teams are motivated to avoid a trip to the Riverwalk to start the postseason.
Apr 16, 2014, 2:14 PM EDT
First team nearly a clean sweep, but one top teamer didn’t even make other two ballots
Apr 16, 2014, 2:03 PM EDT
NBA could still rescind the technical
Apr 16, 2014, 1:32 PM EDT
New research delivers answer
Apr 16, 2014, 12:57 PM EDT
New York based hedge fund billionaires Marc Lasry and Wes Edens are buying the team but keeping it in Wisconsin, they just need to get a new arena built.
Apr 16, 2014, 12:50 PM EDT
Two very different candidates signify wide search
Apr 16, 2014, 12:22 PM EDT
Knicks center knows, though, he might have no choice
Apr 16, 2014, 11:46 AM EDT
You can’t do enough Animal House references to make me happy.
Apr 16, 2014, 11:09 AM EDT
Duo leaves Michigan after their sophomore years
Apr 16, 2014, 9:55 AM EDT
How many years feature three of the best records in a franchise’s history?
Apr 16, 2014, 9:22 AM EDT
Bulls give Greg Smith, Ronnie Brewer, Lou Amnundson and Mike James multi-year contracts
Apr 16, 2014, 8:45 AM EDT
Nothing like waiting until the last minute to figure things out.
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