Apr 24, 2013, 2:01 PM EST
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.
Mar 2, 2015, 8:15 PM EST
Teletovic is also out for the season.
Mar 2, 2015, 7:30 PM EST
We’ll see about that.
Mar 2, 2015, 6:44 PM EST
He will sit out Tuesday vs. Atlanta.
Mar 2, 2015, 6:15 PM EST
Nine total shoes, three colorways each.
Mar 2, 2015, 5:30 PM EST
Has his extra run and touches since Josh Smith was released changing the dynamic in Detroit?
Mar 2, 2015, 4:30 PM EST
Nobody is talking about Dwight Howard as long as the Rockets are winning.
Mar 2, 2015, 3:45 PM EST
The Knicks got some wins and move out of the cellar.
Mar 2, 2015, 3:08 PM EST
Wizards forward has twice been suspended following altercations with Chicago
Mar 2, 2015, 2:28 PM EST
Lakers guard says he can take a joke – just not this one
Mar 2, 2015, 1:45 PM EST
Bulls facing big challenge without their best player
Doc Rivers on DeAndre Jordan for Defensive Player of the Year: ‘If anybody else gets that award, we need to have an investigation’
Mar 2, 2015, 1:18 PM EST
Clippers coach: ‘What he’s doing defensively, if he was doing that offensively, he would be recognized as the MVP’
Mar 2, 2015, 12:38 PM EST
I can’t wait
Mar 2, 2015, 11:59 AM EST
Sleeves notwithstanding, these are good
Mar 2, 2015, 11:21 AM EST
Trail Blazers’ Paul Allen falls to No. 2 among NBA owners
Mar 2, 2015, 10:32 AM EST
Trail Blazers center has moves – or at least a move
Mar 2, 2015, 9:53 AM EST
For some reason, Bulls fans boo this athletic feat
Mar 2, 2015, 9:07 AM EST
LeBron: ‘I have no idea why he would do that’
Mar 2, 2015, 8:30 AM EST
He remains out for the rest of this season at least.
Mar 2, 2015, 8:00 AM EST
Well played, Rockets.
Mar 2, 2015, 2:50 AM EST
We have video evidence Brandon Bass can dunk.
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