The 2016/17 Knicks season will be remembered for many things: Phil Jackson subtly – and then blatantly – suggesting the team would be better off without Carmelo Anthony; Charles Oakley being ejected and banned from Madison Square Garden; Derrick Rose disappearing with no explanation before a game; Joakim Noah receiving a 20-game suspension; Kristaps Porzingis skipping his exit interview.

New York’s results on the court were practically an afterthought, but they weren’t good either (31-51 record). So in addition to upgrading the roster, Knicks management will have to work this offseason to rebuild the franchise’s one-time reputation as a top destination for NBA players.

Here’s where things currently stand for the Knicks financially, as we continue our Offseason Salary Cap Digest series for 2017:

Guaranteed Salary

Player Options

None

Team Options

None

Non-Guaranteed Salary

Restricted Free Agents

Ron Baker ($1,512,611 qualifying offer / $1,512,611 cap hold)

($1,512,611 qualifying offer / $1,512,611 cap hold) Total: $1,512,611



Cap Holds

Projected Salary Cap: $101,000,000

Maximum Cap Room: $19,588,175



Adding the Knicks’ eight guaranteed salaries to cap holds for their first-round pick and three empty roster spots, the team’s salary totals $81,411,825. Even after waiving their three non-guaranteed players and renouncing free agents like Rose, Holiday, and Baker, that wouldn’t be nearly enough for a maximum-salary contract, so the Knicks will have to get creative – or dump salary in a Carmelo trade – if they want to make a splash in free agency.

Footnotes:

Ndour’s salary becomes fully guaranteed after June 30. Plumlee’s salary becomes partially guaranteed ($100,000) after June 30. Rose’s cap hold is his maximum salary, based on a $101MM cap projection. If the salary cap is higher than $101MM, Rose’s cap hold would increase along with it, up to a maximum of $31,984,878.

Salary information from Basketball Insiders and The Vertical was used in the creation of this post.