Were the Knicks right to sit on the sidelines during free agency?

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Sep 19, 2020; Lake Buena Vista, Florida, USA; Boston Celtics forward Gordon Hayward (20) reacts during the first half of game three of the Eastern Conference Finals of the 2020 NBA Playoffs against the Miami Heat at ESPN Wide World of Sports Complex. Mandatory Credit: Kim Klement-USA TODAY Sports /

Were the New York Knicks smart in staying away from high-priced free agents this offseason?

Much has been made about the New York Knicks‘ subdue offseason. For some reason, people were expecting Leon Rose to acquire some big name players just because they have cap space. This stance is odd when you consider the fans’ point of view is the complete opposite; most view this season as one dedicated to the development of the young players.

What is even odder about the critique from the local media is that the Knicks have signed high-priced free agents in three of the last four offseasons before this one. Each of those summer spending sprees has not worked out for the Knicks. In fact, all those bad contracts have only set the team back. Those signings have been an albatross across the team’s neck.

Below are the major long-term signings the team has made in the last 5 offseasons.

2016 – Joakim Noah – 4 yrs/$72M & Courtney Lee – 4 yrs/$48M
2017 – Tim Hardaway Jr. – 4 yrs/$71M
2019 – Julius Randle – 3 yrs/$62M

The Knicks ended up releasing Noah and stretching his contract. He is still on the books through the 2021-22 season at $6.4M per year. Courtney Lee and Tim Hardaway Jr. were attached to the Kristaps Porzingis trade as salary dumps. This resulted in the Knicks choosing cap space over actual assets like productive players or more draft picks. Then there is Julius Randle, who everyone is hoping gets traded, especially now that the franchise has drafted his replacement, Obi Toppin.

But before we come down too hard on the Knicks, lets look at how the rest of the NBA has done with high-priced free agent signings during the same period of time.