Knicks Free Agency: Live updates of news and rumors

Aug 7, 2020; Lake Buena Vista, Florida, USA; Boston Celtics' Gordon Hayward dribbles up court against the Toronto Raptors during the second half of an NBA basketball game at The Arena. Mandatory Credit: Ashley Landis/Pool Photo-USA TODAY Sports
Aug 7, 2020; Lake Buena Vista, Florida, USA; Boston Celtics' Gordon Hayward dribbles up court against the Toronto Raptors during the second half of an NBA basketball game at The Arena. Mandatory Credit: Ashley Landis/Pool Photo-USA TODAY Sports /

Bookmark this page for the latest news and rumors surrounding the New York Knicks in free agency.

The New York Knicks enter their first offseason with Leon Rose as team president.

After waiving several players on non-guaranteed deals and declining the team options of two more, the Knicks had cleared close to $40 million in cap space on Thursday. They quickly used $5 million of it to acquire veteran center Ed Davis from Utah in exchange for two future second round picks in 2023.

That left New York with roughly $35 million in cap space as free agent negotiations began at 6:00 PM EST on Friday. Here’s the live tracker of what they have done since then.

Roster Summary as of November 22 11:30 PM

The Knicks currently have 16 players on NBA contracts, including two, two-ways in Theo Pinson and Jared Harper. Undrafted free agent signing Myles Powell is on an Exhibit 10 contract, which will allow him to collect up to $50,000 if he reports to the G-League after participating in training camp.

Using salary estimates for recently acquired players, the Knicks have $18.6 million in cap space, along with their $4.8 million Room Mid-Level Exception to use.

TRADE: Knicks acquire Omari Spellman, Jacob Evans, and a future second round pick from Minnesota for Ed Davis.

Yes, you read that correctly, the Knicks, who added Ed Davis and his $5 million contract to their books for one day in exchange for two future second round picks, have added another second round pick, along with two players at the end of their rookie scale deals for the veteran center.

That is three second round picks to shepherd Ed Davis for a few days.

Marc Berman of the New York Post reports that Spellman is expected to join the Knicks at training camp. So while the roster currently has 16 players under NBA contract, don’t count on them moving Spellman right away to remedy that (teams must reduce their rosters to 15 players by the start of the regular season).

SIGNING: Knicks sign Austin Rivers

New York is adding Austin Rivers to the roster on a three-year deal worth $10 million, per ESPN. A solid addition on its own, but even better after learning from Ian Begley of SNY that the final two years are non-guaranteed, giving the Knicks added cap flexibility.

SIGNING: Theo Pinson is signing a two-way contract

After his team option was declined earlier in the week, Theo Pinson has agreed to a two-way contract with the Knicks, per Bobby Marks of ESPN. With Jared Harper receiving a two-way qualifying offer, it appears the two, two-way players this season will be Pinson and Harper.

SIGNING: Knicks sign Nerlens Noel

The Knicks added Nerlens Noel on a one-year, $5 million deal, per ESPN. He will become the 14th player under contract, leaving one open roster spot. However, the team could always waive recently-acquired Ed Davis to create an extra opening. With Noel, the Knicks have roughly $21 million remaining in cap space, as well as $4.8 million to utilize with their Room MLE.

SIGNING: Knicks bring back Elfrid Payton

Well, not exactly the veteran point guard Knicks fans were hoping for, but Elfrid Payton will return to the Knicks on a one-year, $5 million deal, as first reported by ESPN.

SIGNING: Knicks sign Alec Burks

The New York Knicks are finally on the board. They have signed 29-year-old wing Alec Burks to a one-year, $6 million deal, as first reported by ESPN.

Remaining updates provided in chronological order.

Carmelo Anthony set to return to Portland (November 21, 5:13 PM)

There will be no homecoming for Carmelo Anthony. According to Shams Charania, he will return to the Blazers on a one-year deal.

Kenny Wooten claimed by Rockets (November 21, 5:03 PM)

Former Knick Kenny Wooten was claimed off waivers by the Houston Rockets, per Shams Charania.

Rajon Rondo signs with Hawks (November 21, 4:29 PM)

Rajon Rondo signed a two-year, $15 million deal with the Atlanta Hawks, per Yahoo Sports. While not directly linked to the Knicks, he was a player some fans were hoping New York might sign.

Gordon Hayward signs with Hornets (November 21, 1:28 PM)

In a shocking development, Gordon Hayward has agreed to a four-year, $120 million deal with the Charlotte Hornets, per ESPN.

Kentavious Caldwell Pope (November 21, 12:57 PM)

As reported on Friday by Ian Begley of SNY, the Knicks have interest in free agent guard Kentavious Caldwell Pope, per Brad Turner of the LA Times.

While not new information, Stefan Bondy of the New York Daily News says KCP was a free agent target for the Knicks in 2018 because Scott Perry is a big fan.

Fred VanVleet re-signs with Raptors (November 21, 12:32 PM)

Perhaps the top target on many Knicks fans’ wish list, combo guard Fred VanVleet is returning to Toronto on a four-year $85 million deal with a player option in the final year, per Shams Charania.

DJ Augustin signs with Bucks (November 21, 12:16 PM)

A potential target for the Knicks, veteran point guard DJ Augustin agreed to a 3-year, $21 million deal with the Bucks, per Shams Charania.

Bobby Portis signs with Bucks (November 21, 12:02 PM)

Former Knick Bobby Portis has agreed to a two-year deal with a player option in the second season to play for the Milwaukee Bucks, per Shams Charania. Portis was a player that some believed could have returned to New York on a team-friendly deal after his team option was declined earlier this week.

De’Anthony Melton signs with Grizzlies (November 21, 11:51 AM)

Within minutes of a report by Ian Begley of SNY that the Knicks had restricted free agent De’Anthony Melton on their radar, Shams Charania reported that he had agreed to re-sign with the Grizzlies for 4-years, $35 million.

Moe Harkless signs with Heat (November 21, 10:22 AM)

Former Knick Moe Harkless has agreed to a one-year, $3.6 million deal with the Miami Heat, per ESPN. He reportedly took less money to join a contender.

Gordon Hayward (November 20, 11:49 PM)

With the Pacers still believed to be his preferred destination, Marc Stein of the New York Times says Gordon Hayward is looking for a deal in the 4-year, $100 million range, which would require a sign-and-trade with the Celtics.

Ian Begley reports the Knicks don’t want to go beyond three years on Hayward. Stein later added to his report that Tom Thibodeau is a “huge admirer” of Hayward and New York has shown some willingness to go beyond an initial two-year offer. Jonathan Macri of Knicks Film School reported on Friday the Knicks had a 3-year, $70 million offer on the table.

Finally, Adrian Wojnarowski said the Knicks have offered a “bigger number on shorter years.”

Carmelo Anthony (November 20, 11:40 PM)

Despite the Blazers being aggressive in free agency, they are still hoping to re-sign Carmelo Anthony, per David Aldridge. Ian Begley of SNY has reported that some teams believe Anthony will end up back in New York.

Justin Holiday signs with the Pacers (November 20, 11:38 PM)

Another potential Knicks target off the board. Justin Holiday has agreed to a 3-year, $18 million deal with the Pacers, per Shams Charania.

Kentavious Caldwell Pope (November 20, 11:31 PM)

As talks with the Lakers initially stall, the Knicks are still a possible landing spot for Kentavious Caldwell Pope. Ian Begley adds to his earlier report that New York could be interested in a “big, long-term deal” to add the veteran as a player they potentially later use as a trade chip.

Marcus Morris signs with the Clippers (November 20, 10:59 PM)

Former Knick Marcus Morris has signed for a shocking 4-years, $64 million with the Clippers, according to ESPN. After inking the veteran forward to a one-year deal last offseason, the Knicks flipped him at the trade deadline for the 27th pick that was ultimately packaged into a series of moves that turned into Immanuel Quickley (who was selected 25th overall).

John Wall wants out of Washington (November 20, 10:32 PM)

I hesitate to include this as a relevant detail to the Knicks, but John Wall reportedly wants out of Washington, per Shams Charania. It’s unlikely the Knicks to get involved, given their current stance that seems to be protective of their long-term cap space. But it could open the door for Russell Westbrook, who has been linked to the Knicks, although passingly, to be traded in an exchange of terrible contracts.

Christian Wood signs with Houston (November 20, 8:54 PM)

After an initial report from Frank Isola put the deal at 3-years, $27 million, Christian Wood will be joining the Rockets for 3-years, $41 million, per ESPN.

Although he makes a lot less sense after the Knicks drafted Obi Toppin, the young power forward could have been someone New York wanted.

Malik Beasley re-signs with Minnesota (November 20, 8:45 PM)

Restricted free agent Malik Beasley has agreed to a four-year, $60 million deal to return to the Minnesota Timberwolves, per Shams Charania. Beasley is someone who has been tied to the Knicks in recent days.

Danilo Gallinari signs with Atlanta (November 20, 8:29 PM)

Danilo Gallinari is finalizing a three-year, $61.5 million contract with the Atlanta Hawks, per Adrian Wojnarowski. Gallo has been linked as a potential target for the Knicks.

Fred VanVleet (November 20, 7:26 PM)

Fred Van Vleet will meet in Chicago with some free agent suitors, per Michael Grange. If you’re wondering whether the Knicks will be there, Marc Berman of the New York Post notes Knicks assistant GM Walter Perrin lived in Chicago when he worked for Utah, and he doesn’t believe he has moved.

Gordan Hayward (November 20, 6:35 PM)

Jonathan Macri of Knicks Film School is hearing the Knicks feel “it’s a matter of when, not if” Gordon Hayward goes to Indiana in a sign-and-trade agreement with Boston.

Kentavious Caldwell Pope (November 20, 6:19 PM)

Teams monitoring Kentavious Caldwell Pope’s free agency expect New York to have interest, per Ian Begley of SNY.

Fred VanVleet (November 20, 6:11 PM)

Shams Charania reported on a live stream that Fred VanVleet will meet with multiple teams at the start of free agency.

Gordan Hayward (November 20, 5:40 PM)

Gordon Hayward is fully focused and wants to sign a deal with the Pacers, per Shams Charania.

Both Stefan Bondy of the New York Daily News and Steve Popper of Newsday have heard Indiana is Hayward’s preferred destination.

Knicks approach (November 20, 5:38 PM)

Brian Windhorst of ESPN has noticed the Knicks taking a prudent approach so far with their cap space, acquiring a contract in Ed Davis in exchange for picks, and he thinks New York will remain strategic in how they spend knowing that the 2021 Draft and free agent class is stronger than this year’s.

Gordon Hayward (November 20, 5:18 PM)

Indiana’s reluctance to include TJ Warren or Aaron Holiday in a sign-and-trade deal with the Celtics for Gordon Hayward could create an opening for the Knicks, reports Ian Begley of SNY.

Michael Scott of Hoopshype reports the Charlotte Hornets are expected to make a push to land Hayward in free agency.

Fred VanVleet (November 20, 4:21 PM)

Adrian Wojnarowski says it is “very likely” that Fred VanVleet returns to Toronto, in part because of the lack of other viable options who can pay him a competitive amount.

DJ Augustin (November 20, 2:43 PM)

Milwaukee is reportedly “very interested” in veteran point guard DJ Augustin, per John Gambadoro of 98.7 FM in Phoenix. He notes the Suns have also expressed interest. He thinks Augustin likely takes the best offer available.

Augustin is a player who has been linked to the Knicks, especially if they don’t land a top player like Fred VanVleet, who seems likely to return to Toronto.

Gordon Hayward (November 20, 1:45 PM)

Jonathan Macri of Knicks Film School says while nothing is done, he is “hearing some rumblings” on a potential 3-year, $70 million deal between the Knicks and Gordon Hayward. He later reiterated that a deal isn’t close to being completed, but an offer is on the table from the Knicks that Hayward is at least considering.

Davis Bertans (November 20, 10:27 AM)

The New York Post reports Davis Bertans remains on the Knicks’ wish list. Bertans is a sign-and-trade target for several teams.

Russell Westbrook (November 20, 9:15 AM)

The Knicks have not engaged in trade discussions with Houston about Russell Westbrook, he is not a priority for New York, according to Chris Mannix of Sports Illustrated.

Gordon Hayward (November 20, 9:12 AM)

Citing connections to recent hires Johnnie Bryant and Walt Perrin, Tim MacMahon of ESPN believes Gordon Hayward will end up with the Knicks.

Russell Westbrook (November 20, 7:59 AM)

Jonathan Macri of Knicks Film School characterizes the chances of the Knicks acquiring Russell Westbrook as “somewhere between generally poor health and life support at this point.”

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Please continue to check back as new information is reported.