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Report: Amar’e Stoudemire to decline early termination option, will return to Knicks next season

Jun 15, 2014, 12:30 PM EDT

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Amar’e Stoudemire has one year remaining on his contract that is scheduled to pay him more than $23 million for next season.

He also has an early termination option which he could exercise, one that would allow him to become an unrestricted free agent and sign a new long-term deal to play somewhere else.

While Stoudemire was productive at times last season, he’s nowhere near the player he once was — a dominant All-Star talent who earned that monster contract in the first place.

For that reason (and others), Stoudemire is reportedly going to stick it out in New York next season.

From Chris Haynes of CSNNW.com:

As most suspected, New York Knicks power forward Amar’e Stoudemire has declined to exercise his early termination option and will return to the Knicks for the 2014-15 season to finish out the final year of his five-year, $100 million deal, a league source informed CSNNW.com.

“He is opting in,” said the source that spoke on condition of anonymity because an official announcement has yet to be made. If he had chose to exercise his ETO, he would have become an unrestricted free agent this summer.

This comes as zero surprise.

Stoudemire’s contract would theoretically make a nice trade piece for the Knicks, considering it’s expiring and would come completely off the cap the following season. But it’s uninsurable due to his history of knee injuries, and that fact alone means that no other team will touch it.

A cursory glance at New York’s cap situation, with Stoudemire’s contract in place, makes it easy to see why Phil Jackson would be trying to talk Carmelo Anthony into opting in for next season, as well.

Having Anthony and Stoudemire both come off the books in time for 2015 would give the Knicks as close to a clean slate as we see in this league, and the team would have an incredible amount of flexibility to rebuild the roster as it sees fit. New York could even consider a future without Anthony — one of the game’s elite scorers to be sure, but one who is 30 years old and will require a max contract of five years to stay in town.

Stoudemire choosing to remain with the Knicks next season was expected, however, and it means that New York will need to wait until the following year to truly make a splash in setting up the franchise for a successful future.

  1. yesser12 - Jun 15, 2014 at 12:40 PM

    They are stuck with him.

  2. campcre3k - Jun 15, 2014 at 12:41 PM

    Whoa! Didn’t see that one coming. I was foresure he was gonna opt out.

  3. adoombray - Jun 15, 2014 at 12:46 PM

    I don’t understand why it matters that the contract is uninsurable. That’s 23 million dollars of cap space that comes off your books. He is the most valuable peace they have for that reason alone. Half the league would LOVE to shave that much money off their following years cap.

    • nykfanwakemeupin2015 - Jun 15, 2014 at 12:56 PM

      I think the whole expiring contract point is an overrated asset

    • sportsfan18 - Jun 15, 2014 at 1:31 PM

      Great idea… let me rent a very expensive car, that I may only drive for 19 min’s a day just so I may save a lot of money when I trade it in for something else a year later…

      • adoombray - Jun 15, 2014 at 6:27 PM

        The snarky analogy doesn’t work and is plainly more snark than logic. STAT represents 23 million dollars that would come off a teams books in a year, and the Knicks could get good players that are signed to longer term contracts on a team that has no interest in winning, who would want to dump any player that is helping them win. The Celtics did this with Crawford/Brooks for Joel Anthony last year, for a non car based example.

    • sumkat - Jun 15, 2014 at 4:26 PM

      Except that anything a team give up to land his expiring contract, they could give philly to just eat that money off their books, and not have to bring Amare in at all

      • eventhorizon04 - Jun 15, 2014 at 5:58 PM

        Agreed with This.

        It’s been widely reported that expiring contracts aren’t drawing nearly as much interest in trade talks as they used to.

        That’s because more and more lottery teams are intentionally keeping their cap sheets clean. Those teams can then offer to take players with bad contracts in exchange for draft picks WITHOUT having to send a bad short term contract in return.

  4. bucs4redskinsname - Jun 15, 2014 at 1:01 PM

    Amar’e Stoudemire knows he hasn’t done anything with the Knicks to justify a huge free agency payday.

    He’s a $10 million player in a $23 million contract.

    • Kurt Helin - Jun 15, 2014 at 7:48 PM

      $10 mil? That’s generous.

  5. angulocarlos1 - Jun 15, 2014 at 1:03 PM

    Suns made a smart move letting him walk

    • sportsfan18 - Jun 15, 2014 at 1:35 PM

      AND the Suns didn’t even have to go to their 2nd, 3rd or 4th options on their presentations to try and trick… er get the Knicks to take him off their hands…

      A MASTERFUL job by the Suns…

      All the other teams in the East should have been thanking the Suns for the past 4 seasons, plus this season.

      They need to give the Suns a gift when they travel to Phoenix to play them this season since the contract will be retiring after this season…

      I mean one team could get the contract a new frame, matting, glass cover etc… to display it in.

      One team could give the Suns a new desk to set a copy of the contract on.

      One team could give the wall behind where the contract is hung and/or displayed a new paint job so the contract will “pop” when one looks at it.

      And on and on…

  6. rrhoe - Jun 15, 2014 at 1:04 PM

    Ain’t no shame to Amare game,23 mil is alot to leave on the table,not to mention its the last time he’ll be eating like that. I can see a few more players opting in also because at the end of the day,regardless of what they say,it is about the money.

  7. cluelessdufus - Jun 15, 2014 at 1:25 PM

    What happened to Amare? I understand he has his knee problems, but he seems to really fallen off the map. At least he has so much money to fall back on because I don’t see anyone giving that contract again. Regardless, that’s gonna feel great to get 23 million dollars off the books next year. Just pull through Knicks fans your time will come.

    • sportsfan18 - Jun 15, 2014 at 1:44 PM

      What?

      Other than his knees, he’s still done OK.

      He can’t play much, but when he’s on the court he produces.

      Two seasons ago, his PER was 22.1, which is VERY good.

      This season, his PER was 18.8 which is very respectable.

      The problem is that he can’t play very long in any game and doesn’t play in close to all the games.

      But, when he IS on the court, he does alright.

      So, OTHER than his knees, he has NOT fallen off the map…

      His true shooting percentages the past two seasons were very good, especially 2 yrs ago, it was an insanely high .637%

      In his 4 seasons with the Knicks, he has scored the following per 36 min’s of court time

      year 1 24.7 points
      year 2 19.2 points
      year 3 21.8 points
      year 4 19.0 points

      The ONLY issue with Amar’e is his knees… nothing wrong with his game…

      if he had healthy knees, his still very good numbers would just be that much better…

      Here’s another way to think about it. He KNEW his money was guaranteed. He KNEW that folks knew he couldn’t earn his money due to his injuries so he could have sat back and coasted…

      He has NOT coasted. For whatever his Knees and body give him, he busts his butt on the court for those 21, 22 min’s a game.

      He’s HIGHLY productive in the time he is out there…

      • mackcarrington - Jun 15, 2014 at 9:47 PM

        You seem to do well with numbers. Look, I’m having this problem with the IRS…

  8. SBoy - Jun 15, 2014 at 1:26 PM

    Amar’e declines his early termination? What’s next? Rush Limbaugh saying something bad about the President? This might well be the least surprising sports “news” story of the year.

  9. Nadeem - Jun 15, 2014 at 1:30 PM

    Well deserved money…after all the glory he has brought for this incredible franchise. It is a pity that the Knicks could not convince him to opt out and re-up for the next 5 years at max money.

    On a serious note, there is not reason for him to not opt in. The fault lies with Knicks. They should not have offered him that monster contract when they knew that it as un-insurable. When the Suns did not offer him the money, what the hell were the Knicks thinking.. but at the end of the day, it is the Knicks. They hardly do any thinking. Chris Smith anyone..?

  10. eugenesaxe1 - Jun 15, 2014 at 1:39 PM

    Water’s still wet, and Generalissimo Francisco Franco is still dead.

  11. csbanter - Jun 15, 2014 at 2:02 PM

    So the Knicks are stuck with him until Feb 2015. Another season of Amare is such a”spark” off the bench. This deal was such a mistake. It must be great to be a fan of quality NBA team of course this doesn’t apply to the Cavs, Knicks, Bucks, Kings,Pistons and 76ers.

  12. luz56 - Jun 15, 2014 at 2:30 PM

    And all the PHX media were all over the Suns for letting him walk….

  13. tmatic74 - Jun 15, 2014 at 3:01 PM

    That’s what bums do.

  14. maritime85 - Jun 15, 2014 at 3:33 PM

    Ugh go away!

  15. thevza - Jun 15, 2014 at 4:14 PM

    Amare probably wakes up every morning with a huge smile. Mr. Bluebird on his shoulder and everything….

  16. luz56 - Jun 15, 2014 at 5:01 PM

    Amare WAS a very good basketball player… When are these teams going to stop offering the stupid deals… Would love to see 2 and an option but max dollars moving up

  17. andreboy1 - Jun 15, 2014 at 6:27 PM

    “The Knicks are back”

    -Amare Stoudemire after signing with Knicks

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