Knicks Rumors: Reasons To Love The Lance Thomas Re-Signing

Jan 18, 2016; New York, NY, USA; Philadelphia 76ers forward Robert Covington (33) defends New York Knicks forward Lance Thomas (42) during the second quarter at Madison Square Garden. Mandatory Credit: Anthony Gruppuso-USA TODAY Sports
Jan 18, 2016; New York, NY, USA; Philadelphia 76ers forward Robert Covington (33) defends New York Knicks forward Lance Thomas (42) during the second quarter at Madison Square Garden. Mandatory Credit: Anthony Gruppuso-USA TODAY Sports /
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Jan 1, 2016; Chicago, IL, USA; New York Knicks forward Lance Thomas (42)drives to the basket against Chicago Bulls forward Nikola Mirotic (44) during the second half at United Center. The Bulls won 108-81. Mandatory Credit: Kamil Krzaczynski-USA TODAY Sports
Jan 1, 2016; Chicago, IL, USA; New York Knicks forward Lance Thomas (42)drives to the basket against Chicago Bulls forward Nikola Mirotic (44) during the second half at United Center. The Bulls won 108-81. Mandatory Credit: Kamil Krzaczynski-USA TODAY Sports /

5. Low Cost

Of the long list of moves Phil Jackson executed during the summer of 2016, few compare to the signing of Lance Thomas. Not only was re-signing Thomas a priority of fans, analysts, and executives alike, but it came at a wonderfully affordable cost.

As countless other career role players were handed contracts in the $48 to $70 million range, Jackson managed to land Thomas on a bargain deal.

Based on the reported starting salary and the 7.5 percent annual increases, the total value of Thomas’ contract projects to be $27.3 million over four seasons.

Thomas isn’t a star on the rise, one could say the same for many players who were handed massive contracts during the summer of 2016. Thus, the fact that New York has Thomas on the roster for the next four affordable years is a blessing.

It’s also a proof that Thomas was willing to take the, “Hometown discount,” to remain with the Knicks—a sign that he really wants to be here.

By re-signing Thomas for $27.3 million over four seasons, the Knicks have created significant flexibility in future seasons. The salary cap will stabilize once it rises in 2017-18, which makes affordable contracts invaluable.

Re-signing Thomas has been a unanimously praised decision, but it’s the contract he was signed to that’s truly spectacular.

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