The New York Knicks have been a very active team this NBA offseason. They have been mentioned in plenty of rumors when it comes to trades and free agents which has been made possible because of transactions Leon Rose and the front office have made over the last few seasons.
New York has done a great job keeping their salary sheets clean, as they have moveable contracts and a ton of draft capital. They have the ability to swing a blockbuster trade should the opportunity present itself.
All of the moves that the Knicks have made thus far this offseason have been done to clear cap space. New York has its targets set on Jalen Brunson in free agency and they have done a wonderful job creating the room to not only sign him but make other moves as well.
What those other moves are is anyone’s guess. But, one thing that people will be keeping their eyes on is the impending extension for RJ Barrett. The No. 3 overall pick in the 2019 NBA Draft is eligible for his rookie extension this offseason.
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According to Ian Begley of SNY.tv, there is optimism that a deal will get done. RJ Barrett and the organization seem to be on the same page when it comes to an extension.
If they re-sign Robinson, sign Brunson, and sign Barrett to an extension this offseason (some members of the organization are optimistic that there will be common ground on an extension with Barrett, per sources), the club would not have cap space in the 2023 offseason. But even if they give Barrett an extension that starts at $30 million, they would still be below the projected tax line. So the club would have the ability to sign players in the offseason without incurring a tax penalty. Obviously, their projected cap situation would change if they traded a player making significant money in 2023-2024.
New York is looking to create more cap space, as Cam Reddish and Evan Fournier have been reportedly been packaged. Julius Randle’s name has popped up in trade rumors as well, but the Knicks would be selling low on him as he was unable to replicate his performance from the 2020-21 season when he earned an All-Star nomination and a spot on the All-NBA Second Team.
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$30 million would be a pretty fair number for Barrett when you consider that Michael Porter Jr. signed an extension that pays him nearly $36 million annually. Working out a deal with Barrett would also snap the unbelievable streak of Charlie Ward being the last first-round pick that the Knicks signed to a rookie extension.