State of the Cap: New York Knicks

Grade:  C

2009-10 Payroll:  $73 Million

Highlights:  Over the years, there have been very few "highlights" when it relates to the salary cap and the New York Knicks.  At this point, the best thing about the Knicks' situation is that the slew of terrible salaries on the roster are expiring at season's end.  Come summer, Larry Hughes ($13.7M), Al Harrington ($10M),Wilson Chandler Cuttino Mobley ($9.5M), Darko Milicic ($7.5M), and Chris Duhon ($6M) will all be coming off the books, not to mention the one-year deals that Nate Robinson and David Lee will likely accept in the coming weeks.  

Wilson Chandler showed signs of maturity this season, averaging 14.4 points and 5.4 rebounds per game.  He had some monster games and clearly has talent, but he's still wildly inconsistent.  At $1.25 million for the 2009-10 season (and $2.1M when the team inevitably picks up his option for 2010-11), the Knicks can afford to be patient in the hopes that Chandler materializes into the player they think he can become.  

The other player that the Knicks are hoping can lure a big-time free agent one year from now is Danilo Gallinari.  He'll make $3 million this year after missing most of last year with a bad back.  Gallinari is thought to be the perfect player for D'Antoni's system, so if he can produce when healthy, his rookie salary will be well worth it.  It might look a little better if it were Eric Gordon or Anthony Randolph getting that money, but...

Lowlights:  The contracts of guys like Hughes, Harrington, Milicic, and Duhon aren't terrible in the long run because they're gone at the end of the year.  But, if you're looking at the money these guys are making for the impact they'll have during this upcoming season, it's enough to make you sick.  Harrington is a weapon offensively and will probably lead the team in scoring, but he has too many "Did he really just take that shot?" moments to be making that much money.  Hughes is a shell of his former self, and Mobley is out of the League, so to have more than $23M wrapped up in those two guys is just ridiculous.  

But, as we know, the goal isn't to win this year.  If it were, the grade above would be much lower.

The worst contracts on the roster belong to those of Eddy Curry and Jared Jeffries.  The reason?  Because they will still be under contract by the time the 2010-11 season rolls around and cut into precious cap space.  No doubt Donnie Walsh is exhausting every possibility to move one or both of these players, but Jordan Hillthat's easier said than done.  Curry's is by far the worse of the two; he played in only three games this past year and has never been in shape.  He will make $10.5M in 2009 and $11.2M in 2010 if he exercises his option.  When healthy, Curry proved to be an offensive threat in Isiah Thomas' system, but he does not fit the run-and-gun D'Antoni system no matter how much weight New York newspapers report that he's lost.  While he might want to find a team that can utilize him better, he'd be a fool not to exercise his option next summer.

The Future:  On the bright side, it's not as grim as it once was.  Walsh got creative and found ways to move contracts that were thought to be immovable (hello, Jerome James).  At this moment, the Knicks have only $22M in guaranteed contracts for the 2010-11 season, more than enough space to pay one max contract.  If they sign Ramon Sessions, it will certainly cut into that, but Sessions is only 23 and looks to be a legitimate starting point guard in this League.

On the other hand, the future depends on luring a big-time free agent next summer.  Anything short of landing LeBron or D-Wade, and the Knicks still have a mediocre roster that is far from competing in the ever-improving Eastern Conference.  We don't know how Jordan Hill and Toney Douglas will turn out, and Chandler and Gallinari will not be enough to make King James want to leave his throne.  If Lee and Robinson accept qualifying offers and take paycuts next year to remain with the team, it's a different story.  Getting Sessions will help, but the truth is the future in New York is about as predictable as a roll of the dice.