New York Knicks: The dilemma of trading assets to open cap space

The New York Knicks may face a decision soon, even with cap space.

The summer of 2019 always seemed like a circled point of the NBA calendar for the New York Knicks. A star-studded free agent class will headline it, with Kevin Durant, Kawhi Leonard, Kyrie Irving, Kemba Walker and others all set to hit the open market.

The Knicks project to have $29 million in salary cap space. Three years ago, that was more than worthy of a maximum contract, except the cap’s spike in 2016 and continued rise makes this not as much as it seems.

There are avenues for New York to shed cap space, as Tim Hardaway Jr. ($18.1 million) and Courtney Lee ($12.75 million) will make a combined $30.85 million in 2019-20. Hardaway owns a player option for 2020-21.

In an early breakdown of trade season, The Ringer’s Kevin O’Connor analyzed the Knicks’ situation. He noted Hardaway and Lee’s contracts but said his front office sources believe the organization will need to attach an asset to move either player.

That’s where the divide between the slow rebuild and diving into the upper-tier of free agency clash.

President Steve Mills said in September that the Knicks will not trade first-round picks. It’s from mistakes of the previous regimes, which dealt top selections for Andrea Bargnani, Stephon Marbury and attaching a pick to move Jared Jeffries‘ contract earlier this decade.

Then it turns to the roster. The Knicks have cheap, young players at their disposal beyond 2018-19, with Kevin Knox, Mitchell Robinson, Frank Ntilikina, Allonzo Trier and Damyean Dotson. All figure to play a part in the team’s future, but would attaching one of them to Lee or Hardaway be worth it for something unguaranteed in free agency?

It depends if the Knicks feel confident to use their 2019 first-round pick to replace one of these players, especially since the draft selection will also consume cap space; the higher the pick, the more money goes towards the payroll.

If not, the Knicks can still stand pat and keep Hardaway and Lee, despite speculation around the former who only returned from a neck injury two weeks ago and has not looked the same as his previous two seasons in New York.

Doing nothing still leaves the Knicks with cap space, and they can always hand out one-year deals to wait for 2020, when Lee’s deal expires and Hardaway’s player option arrives. Khris Middleton and Draymond Green are the headliners, unless Kawhi Leonard and Kyrie Irving surprisingly pick up their respective player options for 2019-20.

So, sitting for 2020 free agency does not present the same class as 2019, but the Knicks still keep their assets and continue to build from the ground up. They can even turn Lee’s expiring deal and a future first-round pick, if they change their stance, for an upgrade near the top of the roster.

It’s not an easy road for the New York Knicks if they want to play a premier role next summer. $29 million, likely lower with their lottery pick’s salary, is nothing to scoff at, but it does not give them the max-deal room for Durant, Irving, Leonard, Walker and the other marquee players.