Mar 18, 2014; New York, NY, USA; New York Knicks new president of basketball of operations Phil Jackson is introduced at a press conference at Madison Square Garden. Mandatory Credit: William Perlman/THE STAR-LEDGER via USA TODAY Sports

New York Knicks Rumors: Who is the first to go?

Mar 19, 2014; New York, NY, USA; New York Knicks new president Phil Jackson looks on from the stands during the first quarter of a game against the Indiana Pacers at Madison Square Garden. Mandatory Credit: Brad Penner-USA TODAY Sports

New York Knicks President Phil Jackson is now on the clock.

With the Knicks eliminated from playoff contention, all eyes turn to Jackson to see what he has in store to turn around this Knicks franchise.

While the important decisions involve who will replace head coach Mike Woodson and what Carmelo Anthony‘s future is, Jackson has plenty of other decisions to make as well.

Jackson has a couple of options as he heads into his first offseason in his new role.

The first of which is to simply be patient.

The Knicks can’t improve via the draft and already have about $60 million committed to the books for next season before Anthony’s pending free agency is even addressed.

Jackson can simply keep the roster as is, knowing the Knicks will likely stink next year and remained focused on the summer of 2015 when the Knicks will have tons of cap room.

But there is another option as well and that is to blow the whole thing up and start over.

Jackson noted he is on a talent hunt and wants to bring in his type of people.

The problem, as  Newsday‘s Al Iannazzone explains, is that no one wants any of the Knicks current roster, so blowing it up may not be as easy as many think.

Iannazzone writes:

Keeping Anthony is a priority, but Jackson must decide whether Tyson Chandler, Amar’e Stoudemire, J.R. Smith, Raymond Felton, Andrea Bargnani, Iman Shumpert, Pablo Prigioni and Tim Hardaway Jr. are worth bringing back. Remember, Jackson said he’s on ‘a talent hunt.’

Some, if not many, of the current Knicks will return because they hope to maintain some of the flexibility they have for the summer of 2015. But Felton, Smith and Bargnani don’t seem to fit the Jackson mold. The problem: Who else wants them?

However come July 1 things could change a little bit in Jackson’s favor.

As disastrous as the Knicks contracts are, once the calendar hits July 1 they are loaded with expiring contracts, which still have some value. Under the new CBA they aren’t as valuable as they once were, but they are still tradeable assets. That is something that the Knicks have none of at the moment.

When the calendar turns to July it is almost like flipping a switch.

Guys like Amar’e Stoudemire, Chandler and Bargnani immediately see their value increase as they will now be on expiring deals.

However we go back to the issue of who wants most of these guys?

Players like Felton, Stoudemire and Bargnani simply aren’t Jackson type of guys, but the key will be not only finding takers for these guys when July comes around, but also finding deals where the Knicks don’t have to take back a lot of money in return.

The goal is still to improve via free agency in 2015.

However if there is any good news it is that Jackson likely will have more options come July then the Knicks had to make moves this season.

The only question is who will be the first to go?

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