The Knicks' greatest player development success this year has undoubtedly been Emmanuel Mudiay. The point guard nearly played himself out of the league in his first three seasons when most advanced stats showed he was one of the worst players in the NBA. He had never shot above 39 percent from the field or 32 percent from behind the arc in any of his first three years.

This season has been different. Whether it was simply being in better physical shape or improving some fundamentals in his shooting, Mudiay has been a far better offensive player. He is shooting a career-high 45.8 percent from the field, thanks mostly to improved shooting outside of the restricted area and inside the 3-point line.

His numbers in December were even better, averaging 18.6 points on 46.4/33.3/75.9 percent shooting. He also averaged 5.5 assists and just 2.3 turnovers. Mudiay is playing the best basketball of his career and has proven that, at the very least, he is a rotational player on an NBA team. At just 22 years old, Mudiay still has room for growth, and it looks like he has a future in the league.

As I discussed here, there are legitimate questions as to whether Mudiay’s revival is sustainable. His defense is also a huge deficiency. Assuming he continues to play close to his December level, Mudiay could be a sought-after player when he becomes an unrestricted free agent this summer.

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It puts the Knicks in a Catch-22. They want to develop young players like Mudiay, but the better he plays, the less likely it is the Knicks can afford to bring him back. With the Knicks hoarding cap space with the hope of landing a max-level free agent this summer or next, re-signing someone like Mudiay becomes problematic. They are currently about $3 million short of signing a max player of seven to nine years of experience and about $9 million short of signing someone with Kevin Durant’s tenure this summer.

The Knicks own Mudiay’s Bird Rights, giving him a cap hold of about $12 million if the Knicks want to be able to go over the cap to retain his services. They will have to renounce him to sign any of the big fish in the free-agency pond, barring a trade of Tim Hardaway Jr. or Courtney Lee that would free up even more space. If they sign a max player, retaining Mudiay is basically impossible unless they use one of their over-the-cap exceptions on him.

If the Knicks fail to land a major free agent this summer, whatever they pay him is money they cannot use elsewhere. Re-signing him to a one-year deal would be fine to maintain future flexibility, but that’s where continued improved play from Mudiay becomes a problem. If he continues to improve, he would likely receive a multiyear contract offer from another team that would be more attractive than whatever the Knicks could offer on a one-year deal.

In other words, the better Mudiay plays, the less chance the Knicks have of bringing him back. It’s a similar issue for Noah Vonleh, who has proven to be an extremely valuable and versatile big man for the Knicks this year. He can defend at a high level, hit the open 3 and even create in mismatch situations. Even more so than Mudiay, Vonleh will be someone the Knicks will want to retain. The better he plays, the harder it will be to keep him if the Knicks want to keep a maximum salary slot open.

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The Knicks' situations with Mudiay and Vonleh (also Mario Hezonja) are the price of signing players to one-year deals or acquiring them with only one year left on their contracts. There’s the intrigue of giving failed lottery picks the chance to succeed, but the downside of succeeding is that you see them leave to thrive for other teams. It is a financial situation the Knicks will have to deal with come July. It won’t be easy.

Another Step Forward For Knox

Kevin Knox took home well-deserved Eastern Conference Rookie of the Month honors for December. He averaged 17.1 points per game on 40.3/38.4/64.0 shooting with just over six rebounds per game. Knox still has a lot to work on, especially on the defensive end, but his quick progress offensively portends well for his ability to score consistently in the NBA. He has progressed in important areas such as getting all the way to the basket and finishing in the half court, something he struggled with at Kentucky.

It is hard to be anything but happy with what Knox is doing as a 19-year-old rookie. It is extremely early and a lot can change, but it looks like the Knicks' front office picked the right player in the 2018 draft.

You can follow John on Twitter at @Schmeelk and you can listen to my new Knicks podcast "The Bank Shot," which can be found on Radio.com, iTunes and other platforms.